Terrorist Mastermind and Leader of Al Qaeda, Abu Musab al-Zarqawi, Killed in Air Strike - Market Reaction Mild
As I am sure you have all heard by now, Abu Musab al-Zarqawi was killed today in an air strike. Al-Zarqawi woke up this morning to a plethora of U.S. warplane dropping 500-pound bombs on his isolated "safehouse". I personally prefer to use my alarm clock to set my wake up calls. Upon the news of Zarqawi death, oil dropped a little bit as terror worries dimmed, but not by much. The markets have been in a free fall as of late and many are viewing this time as a good opportunity to get back in. I will continue to stay on the sidelines with much of my money until the markets gain a better footing. There are just too many bearish patterns still out there and I can't seem to find any good news for the markets on the horizon yet. My current favorite stock remains Sunoco (SUN), at least until the hurricane season ends.