The euphoria in the United States about the killing of Al Qaeda chief Osama bin Laden in Pakistan earlier today is likely to be followed by a final surge in the stock market, but that could well be the top of this rally.
As the sensational news broke just before by a late-night statement from President Obama, Americans celebrated in the streets outside the White House. Stock futures indicated that Wall Street would celebrate too by opening higher, with a flight from safe haven assets like gold, silver, oil and bonds.
In a sense the raise of stock price sounds reasonalble, but if I am in currency market, I would rather be in Short position, Selling posion!!
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Steven S Ahn