IRAQ buckles under pressure

Discussion in 'Trading' started by xtrader, Sep 16, 2002.

  1. xtrader


    futures UP

    Is this the beginning of a mini bull market?
  2. stall tactics.but we should get nice gap out of it.
  3. I don't know about stall. Seems there would be some relief in overseas tonight big time. Don't think they would call it a stall but more of a very positive move BWTFDIK.
  4. Bryan Roberts

    Bryan Roberts Guest

    i could use a good day tomorrow!!!!!!!!
  5. sadam is smart.he knows he cant beat us but he can wear us down.he takes us to the brink over and over and pulls back at the last moment untill we tire of it and give up or maybe get another limp wrist in the white house.
    in any case the market should like it tomorrow.
  6. U.S. skeptical of Iraq offer, to work through U.N.

    By Steve Holland

    WASHINGTON, Sept 16 (Reuters) - The White House reacted skeptically on Monday to an Iraqi offer to allow the unconditional return of U.N. weapons inspectors and said it would maintain its efforts to seek Iraqi disarmament through the U.N. Security Council.

    "We've made it very clear that we are not in the business of negotiating with Saddam Hussein," said White House communications director Dan Bartlett. "We are working with the U.N. Security Council to determine the most effective way to reach our goal."

    Iraq agreed on Monday to allow the unconditional return of U.N. arms inspectors. They were pulled out of Iraq in December 1998 on the eve of U.S.-British bombing raids and had not been permitted to return.

    The Iraqi move came as the United States seeks support in the United Nations for a resolution requiring Iraq to disarm. Washington accuses Iraq of developing chemical, biological and nuclear weapons.

    The offer risked undermining the momentum the United States has built up against Saddam in the wake of President George W. Bush's speech last Thursday to the United Nations at which he said the U.N. risked becoming irrelevant if it did not respond forcefully to Iraqi intransigence.

    Bartlett called the Iraqi offer a tactic aimed at giving "false hope to the international community that he (Saddam) means business this time. Unfortunately, his more than decade of experience shows you can put very little into his words or deeds."

    "Our goal is disarmament. And we have seen the type of inspections that Saddam Hussein has embraced in the past as efforts to defy that very goal," he said.


    Bush last Thursday challenged the United Nations to enforce U.N. resolutions requiring Iraq to disarm or else the United States would be forced to act on its own. Then Bush said on Friday he was "highly doubtful" that Saddam would ever comply given his past history.

    "We've seen in the past where he (Saddam) has made these types of general statements only to mean something entirely different when it comes to the reality," said Bartlett. "That's why we approach this with a very healthy dose of skepticism. We will work with the U.N. Security Council to do it in an effective way to achieve the results we desire."

    In a speech on Monday in Iowa, Bush called the threat posed by Iraq "one of the clearest threats we face."

    "See, we've got a man in that part of the world who agreed to disarm, agreed to pay compensation to the victims of the horrible crimes he committed, agreed not to harbor terrorists -- and he's broken every single agreement," Bush said.

    He said he told the United Nations that "either you can be relevant in the world or not -- your pick."

    "We, the world, cannot let the world's worst leaders harbor and develop the world's worst weapons. This tyrant must be dealt with, for the sake of our children and our children's children," he said.

    09/16/02 19:46 ET
  7. Babak


  8. Very succinctly put.
  9. Of course it's a stall tactic. They guy probably has nukes...who knows where...

    And we get a gap up trend day unless something weird happens. I'm not staking my life on it. Anything can happen.
  10. Quah


    ES is up on crap for volume. Should be interesting.
    #10     Sep 16, 2002