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Two-twenty update (40 min. to go):
Nothing really happening at all. Volume has taken a dive again, but
price hasn't moved. There are a wall of futures sellers at 500 and
just below, but somebody stubbornly wants to hold the bid at around
450 or 460. Who knows.
What I can tell you is only to repeat, and that is that volume has
dried up this afternoon, and I don't think what I'm seeing right now
is indicative of a continuation move from here. However, as we all
know, if price starts moving volume can suddenly come in.
The whole thing has the air of holiday syndrome here, with Uncle Sam
finding a little Saddam doll stuffed in his Christmas stocking.
^^_^^ I would not read to much into this, and I would be really
worried long right now and at this level should one police station in
Iraq get bombed today or tomorrow.
Futures back at 440/450 as I write; I would not be surprised to see a
lurch either way toward the close.
Yuki
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