I have been reading reports this afternoon about the airport and suburbs of Tripoli being in rebel hands. Also an unconfirmed rumor of Gadhafi departing http://www.theatlanticwire.com/global/2011/08/report-qaddafi-and-two-sons-have-fled-libya/41523/. Combine this news with a prediction of peace from the Prime Minister on Friday, news that rebels could resume oil production within 2 or 3 weeks (http://af.reuters.com/article/topNews/idAFJOE77I0BF20110819) and it would seem to me that there should be some premium coming out of Brent, which could bring some relief to Europeans. Rally Monday?
May the Force be with them. I laughed SO hard when I saw a vid of one of the Rebel Fighters wearing a Notre Dame sweatshirt. Go Fightin' Irish!
Rumors of Gadhafi's departure proved to be untrue, for now. Reuters only minutes ago: "Head of Libya rebel council says ready to stop fighting on condition Gaddafi announces departure", and "Libyan rebels claim they have captured Saif Al-Islam, Gaddafi's son".
http://www.bbc.co.uk/news/world-africa-14608807 Libya rebels advance into Tripoli after fierce fighting
Sounds like he (Saif) will soon be visiting The Hague. But I am disappointed. I expected a happier stock market. Maybe tomorrow.
Reuters is reporting that Obama will make a statement on the Libyan situation. And here is the obligatory youtube video of celebrations on the streets of Libya: http://www.youtube.com/watch?v=AlBDqYFrjuU I am watching this website for updates: http://www.breakingnews.com/topic/libya-conflict?q=libya-conflict
They (Central Bankers) probably have volatility swaps in a bunch of assets keeping things in check right now....
So far so good... "Oil Slides in London as Libyan Rebels Enter Tripoli, New York Crude Rises Oil futures rose 0.4 percent in New York, paring earlier losses, to trade at $82.70 a barrel. Brent crude slumped 1.6 percent to $106.92, narrowing the premium to U.S. prices from a record settlement on Aug. 19." http://www.bloomberg.com/news/2011-...ebels-enter-tripoli-new-york-crude-rises.html
If there was ever a time to employ dollar based attacks now's a good time to short every last fucking currency Dinar left in Libya. The same tactics should have been employed prior to the Iraq War and to the same denomination of currency Iraqi Dinars. In fact the Fed should liquidate their holdings just to do this. It'll make trillions and pay off the national debt.