Are they Nuts in the Middle East?
Fist Hezbollah kidnaps a couple of Israeli soldiers. They probably felt very macho doing that. As if they had no idea how Israel would react.
And the Israelis, of course, react exactly the way they're expected to act.
Result:Full naval blockade of Lebanon, a bombed international airport. The Lebanese government also said 53 Lebanese had died since Wednesday, including one family of 10 and another of 7 in the southern village of Dweir. More than 103 have been wounded, the Lebanese said.
On the Israeli side, two civilian Israeli dead, one killed on her balcony by a rocket, and about one hundred wounded, so far.
All these deaths to "free" two men.
Doesn't seem like a fair trade for humanity.
They are nuts, on both sides of this conflict.
Completely, irrationally, nuts.
And they won't stop until there are no Israelis and no Palestinians left killing.
Meanwhile we fuel the flames by giving billions in military aid to Israel and some humanitarian aid to the Palestinians, just so they can all continue fighting, paid for by our tax payers.
In fact, it is all so crazy that it makes you wonder if it isn't so crazy.
Follow the money trail.
Who makes money off this whole thing? Who just bought oil futures like crazy over the last few weeks. Who's smiling?
As a matter of fact, this e-mail arrived yesterday to the Dow Theory Letters, one of the best financial websites there is:
I trade oil on the floor of the NYMEX.
Beginning June 22nd, there has been large scale buying of oil in a very conspicuous manner through June 30. Monday the 26th was noteworthy as one buyer bought as many contracts as anyone was prepared to offer in front of a drive to take out the previous week's highs.
Someone has placed an enormous bet on an upward drive in prices over the next few months.
I've only seen it a few times and each such drive has preceded a $10 - $14 move.
The more sophisticated research around the street has apparently assigned a 70% probability of $90 oil. Lord knows where gasoline will be trading.
Lets see what the summer brings.
Fade this at your peril, me thinks!
On the second last Thursday of June, some big, conspicuous, constant buying began in the Oil pit. A steady stream of bids for 500 contracts began coming in all afternoon. The following day, the same, with one broker bidding for 3,000 contracts at a clip. (This is an exceptionally large order in the Oil market. On the close, the same broker bought 2,000 more contracts.
The following Monday, the market opened down 25 cents. The same broker bid for and bought 2,000 25 points lower, then bid for another 3,000. 5 minutes later he bid 20 cents higher for 5,000 contracts. Some 15 minutes later he bid for another 5,000 contracts at Fridays high. That sent the market running.
Each day the following week there was conspicuous steady buying of 1,000's of contracts through June 30.
On yesterdays sell off to 72.90, there was enormous buying around the 7300 - 73.20 area.
So the question is, how much is coincidence and how much are we all puppets, manipulated for profit?
I don't know the answer.
I just wonder if, when something looks completely crazy, if isn't so crazy after all.
Call it contrarian thinking.