Profunds index and sector trading

[Ek]

Steve: the iraqi elections are quite meaningful in a couple of ways.

1. as it happens in most situations, things get nasty as time approaches. if there are american casualties, it depresses the sentiment here.

2. secondly, any significant upheaval causes oil traders to go bonkers.

both conditions result in funds "holding" for clearer skies. i am not saying that the markets are dependent upon this event mid to long term. i am only cautious this week, and believe the serious money is not taking any undue risk of a nasty monday surprise. i could be dead wrong, and hope i am so, as i am fairly long here.

ek