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VRA Letter: “Never Sell on a Monday”. It’s All About Oil, the Strait and Trump. Oil; Extreme OB on Steroids. Pre-Alert: NAIL. God Bless Our Heroes.

Good Monday morning. This morning I can hear my mentor Ted Parsons voice in my head; “Never sell on a Monday.” And yes, over my career, this advice has held up well. Overnight Dow Jones futures fell as much as 1200 points (- ...

Posted On March 09, 20266 MIN Read
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Good Monday morning. This morning I can hear my mentor Ted Parsons voice in my head; “Never sell on a Monday.” And yes, over my career, this advice has held up well. Overnight Dow Jones futures fell as much as 1200 points (-475 as I write) with Nasdaq losses of 650 points (-225 as I write), with oils highs right at $120/b (last: $101).

My view remains; this is all about oil prices and the Strait of Hormuz. The markets aren’t concerned about “Iran”. Iran poses little direct risk to the US. The war, for all intents and purposes, has been won. This is all about the Strait of Hormuz and oil prices. If I’m Trump…who we know loves the markets and taking credit for their gains…this is all about getting the Strait sorted out. Must be top of his list. Because, when ships are sailing through again, oils headed back to the $70’s. If you watched XLE (energy stock ETF)  over the last two days, even as oil spiked to $92 ($103 as I write, down from its $120 highs), energy stocks moved lower. Energ...

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