posted
All of statement below is based on my own personal feelings regarding the recent news of Saddam Hussein's capture and this events possible effect on the U.S. stock market this week. One way to see how U.S. stocks may react to the capture of Saddam Hussein is to remember how U.S. markets reacted to the confirmed killing of Saddam's sons. The killing of these two gave us a glimpse of what we could possibly expect to see once Saddam were also either killed or captured . Tuesday, July 22, 2003, it was reported that Hussein's sons were killed in a raid. The U.S. stock markets remained basically unchanged while critics questioned if it were true. On July 24th, 2003 the government released pictures of their bodies, but the market was down a little (about 0.7 percent), and did not react quickly. On July 25th, 2003 it was reported that Saddam's bodyguards were captured. U.S. markets felt like we were very close to nabbing Saddam and they shot up 1.7 %. It is reasonable to expect that U.S. markets would go up by as much as two or three percent to the news of the death or capture of Saddam. This kind of a rally could possibly continue for 1 - 3 days and then even out, leaving many stocks at a new level, and others falling back to near previous levels It is very likely that U.S. markets will see a two or three percent rally for 1 - 2 days starting on Dec. 15th, 2003. Many stocks that have been on the verge of breakout could see good movement. Everyone should be ready to take advantage of morning gap ups on their held investments. A good many stocks that have been flirting with moving up to the next level could do just that. Investors should be on thier toes this week because it could get very interesting. Just Throwin' A Bone. IMO.
Tokyo stocks jump on Saddam capture, dollar rises By Allen Wan TOKYO (CBS.MW) -- Tokyo stocks soared in early trade Monday while the dollar rose against the yen following the capture of former Iraqi leader Saddam Hussein. The Nikkei Average jumped 273 points to 10,443.34. The greenback traded up at 108.11 yen in early Tokyo from the late Friday New York level of 107.90 yen.
posted
Nice, an almost 300 point move on the NIKK on the news. Hopefully we can see a similar movement tomorrow and in the days ahead It would make a merry christmas for many of us I'm sure.
IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
It would make a merry christmas for many of us I'm sure.
