Day: April 8, 2006

Article: Divine Right of Bushes

From the April 8th New York Times:

Op-Ed Columnist
Divine Right of Bushes

So the aide turns out to have been loyally following his leader’s dictates, rather than going around the boss’s back to peddle secret information.

Scooter is a “good Judas,” as it turns out, just as Judas himself was, according to a 1,700-year-old Christian manuscript found in the Egyptian desert that asserts that Jesus wanted Judas to betray him, so he entrusted his disciple with special intelligence.

“You can see how early Christians could say, if Jesus’ death was all part of God’s plan, then Judas’s betrayal was part of God’s plan,” Dr. Karen King, a professor of the history of early Christianity at Harvard Divinity School, told The Times.

Since President Bush seems to see his mission in Iraq as part of God’s plan, he must have assumed that getting Scooter Libby to leak parts of a classified document on Iraq to rebut Joe Wilson’s charge about a juiced-up casus belli was part of God’s plan.



Twisted Stories…

From the April 7th page of CNN:


Senate Minority Leader Harry Reid, D-Nevada, speaking on the Senate floor Friday, called it “shocking news” that Libby “may have acted on direct orders from President Bush when he leaked classified intelligence information to reporters.”

“It is an understatement to say that this is a serious allegation with national security consequences,” he said. “It directly contradicts previous statements made by the president. It continues, in my opinion, a pattern of misleading America by this Bush White House. It raises somber and troubling questions about the Bush administration’s candor with Congress and the American people.”

Click to read the rest of the article…


Seconds Chances Don’t Come Often…

…But this might just be a second chance for people to clear out some dollar positions and/or enter or add to long Euro positions at a better entry point after last week’s dollar breakdown / Euro breakout (see prior post). And judging from the poor performance of the fixed income and equity markets on Friday, that’s what’s going on.


Cubes Update

Just a quick post to point out the distribution day and engulfing candle we posted on Friday. Also notable is the following: (1) this nasty reversal day came shortly after the Cubes scaled the $42 resistance level, and (2) it came before Cubes could post any high volume up days. What’s it mean? The air is thin above $42 right now. Click the continuation of this post to see the 10-day hourly chart and my comments on it.