Libya is Not Egypt

Libya exports oil and is more important for the overall market than Egypt.  Plus you have Iran which is an even bigger deal.  The dominoes are toppling, but the US market still wants to overlook it.  The emerging markets and Europe have taken notice.  But the US equity market is the strongest of them all.  The dip buyers are already starting early and taking us well off the overnight lows.  I wouldn't bet on a big drop, it just doesn't pay to bet that way in such a strong trending market.   I am now flat and out of my ES short.  Buy the dips.