Lane...
I found neither Saddam's ploy nor our response surprising, and frankly, if the truth be known, I doubt that anyone at the UN except the most naive were surprised either. It will not be the last attempt by Saddam to delay and confuse things with the primary aim being to isolate the US and prevent us from forming a coalition against him - he especially wants to keep the Arab states from joining in.
Industrial production and capacity utilization was just reported, and both were below what the market was looking for, as I predicted. That should put the market's focus back on what has been taking this market down, which are valuations, the economy, and earnings (lack thereof), not Iraq. Iraq was and remains a negative overhang on the market, but not the real problem.
Good luck to you.
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