Among men, there is always a tipping point.
I fear Mubarak's selfishness may lead to a tipping point. At first I indicated this was not systemic. But as Mubarak continues to ignore the voice of Egypt, and keep proving to the protesters that he really is a dictator, the threat of civil war is very much on the table.
The protests have not subsided at all. If anything, with the release of the prisoners, the protesters are more energized, and now they are angry at the speech. I am concerned about the uncertainty Mubarak just created.
There are too many ways this can now play out. But the one thing I can be certain about, the protest will continue. I mean, why would the protesters trust a man to see a transition when that man is not listening to the people right now?
Something is gonna give.
With uncertainty comes a discount in markets. I used the weakness today to add to positions in AAPL, IBM and have SPY put protection.