09:55 ET Floor Talk : The Saddam Effect: Checking with trading desks to get a feel for if market holds today or if we see a sell-the-news reaction to the Saddam news. Institutional traders seem to believe today's rally will be temporary as it is considered the "Saddam Effect". They suggest today's market activity can be best characterized as a sell rally given geo political risk not being something the market was focused on going into the end of the year. Traders suggest institutional investors will try to sell into rally.
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