Politics make up the day... There have been many developments on the international political spectrum today... and the market finished higher?!?!

Mudslinging was in full force today as Iran responded to the West's action on referring the case to the United Nations Security Council. Iran stated that the West, and in particular the US, would face "harm and pain" upon requesting the IAEA case be brought to the UN for possible sanctions. The US is suggesting that Iran has enough highly enriched uranium gas that could be developed into 10 nuclear warheads. Iran is keeping to its story of nuclear fuel for peaceful, electrical purposes. The IAEA suggests that if Iran doesn't comply with reinstating inspection standards within 30 days, then the case will be moved to the UN. Also, Israel said that if the UN is not successful in deterring Iran, they will move unilaterally to protect its citizens.

What to make of all this? Well, this definitely does not look good for the markets in the short-medium term. Although the market did end higher today, the political situation should be at the fore-front of "smart money" thinking.  ¶ 7:30:00 PM