4/9/2026
Crude oil is back up $5 to $99, yet stocks rose a half percentage point, just goes to show the wave theory has validity. Stocks gained 1,200 DOW points on a drop in oil but rose again on a rise in oil.
If anything, the danger to the US from Iran is now much higher given their desire for revenge. Trump seems to have mistaken snatching Maduro same as snatching an entire country. Leaving the Iran regime in power is quite dangerous.
My view is unchanged, wave two up in stocks could already be done, it should not last much longer.
Oil is expensive here though we have plenty due to arbitrage. If oil were $65 here, tankers from the rest of the world would line up to by, it's a global market.
More this weekend.
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