History is Being Made

I'm watching the market, I saw GDP come in below consensus-not a big surprise. If we use history as our guide, we can count on the GDP number being downgraded several times from here.

What's big is Egypt right now. One of the biggest developments I just saw live on Al Jazeera. An army armored vehicle pulled up and what did protestors do? CELEBRATE! The people have been calling on the army to protect them from the riot police. Washington's main concern all along has been what will the army do? It seems we may be getting some initial ideas about the Army's role in Deposing Mr. Mubarak.

What comes next in the Political Center of the Arab states is a major unknown.

I'll have some market reports up for you shortly.

Interestingly about the GDP number, I'm not sure if my theory is correct or not? However so far judging by opening action and volume, my theory may have been correct, after all GS was one firm that came in below the average consensus and is a Primary Dealer and perhaps part of the backscratching club. If the advance GDP was known in advance, which would be no surprise, then the rally in the beginning to middle of the week would make absolute sense. Any good trader needs to have a healthy dose of skepticism mixed with a little paranoia and even that may not be enough.