Yes, the Egyptian Army is equipped with a vast array of American weaponry, but Israel has no need to worry. The USA only allows Egypt a few day’s supply of ammo and spare parts, according to Eric Margolis.
Of course, being on the wrong end of an onslaught of such an army for “only a few days” wouldn’t be a picnic. But I’m guessing that an Egyptian attack on Israel is not very likely no matter how crazy the next regime may be.
Could the Egyptians build their own ammo and spare parts? I doubt they would be able to keep their American jets flying for very long without extensive outside help, but they do build the American M1A1 battle tank themselves under license. I couldn’t find much information on this, but according to this page, only 40% of the M1A1 parts are made at the Egyptian plant, with the rest being imported from the USA.
Another factor in Israel’s favor is that the Arabs are counting on the Israelis to help them fight off the Persians. If Iraq becomes an Iranian satellite after the USA is gone, then all of a sudden both Saudi Arabia and Kuwait will be effectively sharing a land border with Iran. Look at the maps: Saudi Arabia, Kuwait.
Will Iraq fall to Iran? Some observers think so. Muqtada al-Sadr, who was hiding out in Iran, recently returned to Iraq. Only three years ago, Iraqi troops were cracking down on Al-Sadr’s Mahdi Army in Basra.
I can’t believe the U.S. is allowing the M1A1 technology to be used by someone else!
What are they thinking? Surely they left out the firing pin on the guns or something.
Talk about putting your own troops in harms way. What we’ll do to make a buck.
I still say that if the Middle East cuts us off from their oil, we cut them off of our food.
Food is a bigger motivator than oil.
Well, there you go… another blast to the top. It doesn’t get any better than this where the trend is so well defined.
g
200% long from open
selling 1/2 here
g
notice dollar up …stocks up…..
little correlation between dollar and stocks long term
as i mentioned… dollar up ..stocks up is more common
bonds starting to rally
selling 50% of long stock
now 50% long
SPX next target 1367
then eventually 2300
TBT looking good.
P
Agree with the targets as long as all goes to plan; even then, it will be hard stopping this bus.
Do you think this latest market boost is due to folks getting out of bonds? Looks like they have jucier profits in the general market.
Bond market evacuees + QE2, and maybe 3, = higher market.
g
sold most of my TBT this morning on gap up..
still have 20% left
i am more interesting in buying bonds soon and dumping all my TBT
p
So you’re thinking this move on TBT is only temporary? The weekly is looking strong right now.
bonds look like 5 waves down
bonds now hated
i want to buy bond smashes now..
Gotcha
VIX has reached a support area, the previous low in January at around 15.90. The low prior to that was 14.90. So if it loses this support area, more upside to the market.
That 14.90 low should read 14.40.
The bigger the dip, the more merrier the dip-buyers. SPY now showing some possible weakness on the 15min. Oxymoron, SPY and weakness.
bought this dip
now 100% long
Hi everyone!
Popped in to say watch out for an upcoming triple fan-line break. Remember those from 2008? Using the 666 low, if we run the first fan-line through 869, the second one through 1044, and the third one through 1010, it’s interesting to note that the second line approximately bisects the angle formed by lines one and three. Won’t take too sizable of a drop to break the third line (of course, no drop of more than 5 pts has been allowed for an eternity… lol). Right now, 1230 or so would do it, and the line is rising. GLTA. See ya later.
1230? Good God JG, I doubt we’ll see <1300 for months if not years.
This market only has one direction: UP. It is a GREAT levitation act though–better than any magician in Vegas!
Thanks for stopping by and giving an update though–I appreciate it, and look forward to your insights when you do give them.
Oh, and did I mention, it isn’t Turnaround Tuesday, it is Turn It UP Tuesday?
Hi JG. I’m trying to re-create your fan lines.
Turn it UP Tuesday? You got that right, 2th.
Here’s SPY’s daily with the upper trendline connecting the previous two swing highs. Maybe a little more to go to the upper trendline.
http://i52.tinypic.com/2ez30pu.jpg
Didn’t take long to turn green.
Financials leading the way. SPY ready to make intraday double tops.
SPY still not to the upper trendline. Not far to go though. That could be a good place to back off for a correction – actually, at any time now.
http://i56.tinypic.com/ke7kh3.jpg
SDS hasn’t beat yesterday’s all-time low – yet. SKF (financials inverse) has made an all-time low today.
The juice keeps building.
SPY hit intraday tops, now to see if it will find support to make another attempt. I’m sure the dip-buyers will give it a try.
g
bought am dip @ 1317
target was 1223
sold 1222
a/d line weak
volume weak
360 million traded….nyse
citicorp volume 220 million……un believable george….
target was 1323 (typo)
selling more TBT into this surge …only 10% left
preparing to buy bonds soon
G
$ TNX 38.88 is my initial buy target
p
Nice going. Talk about a bubble!
MOAR coming soon… as soon as SPY hits that upper line.
Upper line hit as far as I can tell with these old eyes.
new target
SPX 1330 but its looking like we are on fumes
Here’s the updated SPY chart. I wouldn’t want to be a buyer at EOD.
http://i53.tinypic.com/155jg1u.jpg
p
That wall of worry can keep it going on pinto beans.