A Melman Minute — February 21, 2011
| By | Leonard Melman |
|---|---|
| Date | February 21, 2011 |
Due to the "Presidents' Day" holiday in America, all of their major markets are closed for the day, so we will offer only an abbreviated MM today and prepare a full-length one for tomorrow when all markets have had a chance to fully react to the w2eekend's important events..
Most of these important developments relate to growing unrest throughout the Arab world. Violence and deaths are escalating rapidly and in Libya, new threats to the world of international petroleum are on the rise.
As a result, both petroleum and gold quotes have soared in overnight trading and now stand near $95 per barrel for Crude Oil and about $1,410 for gold. Stock market futures for America's re-opening tomorrow morning point to lower markets, at least at this moment.
As we review the volumes of information pouring out of the Middle East, we cannot help but be suspicious that these uprisings are NOT "spontaneous", but rather are mysteriously coordinated in nature, aimed toward an as yet unannounced goal.
Until tomorrow morning.
Leonard