The Stock Market Looks Like Jurassic Park

8/4/2026 3:12 CST after market close Recall that scene in Jurassic Park, richard Attenboroough is escorting Sam Neil and Laura Dern thru the park. laura is reading s a brochure in the jeep, Sam reaches and turns her head to the nearby full sized brontosaurus, Laura gapes, I feel that way looking at the end of day market numbers. NDX up 956, INDU up 907, 54,085 This is not just the reaction to AI and Hormuz, uh what Hormuz i would say but nore on that ina minute. This is the fifth of the fifth of the last read of an over heated market, see Ray Dalio previous post. SPX 7736, 8,000 is a given at this point, sure hop aboard if you can find anything at less than three digits per hundred shares. as said in the previous post, this is Oct 19807. March 2000, dotcom, and or Fall 2007 sub prime peak. All previous highs, and the following lows, have been forgotten, a socionomic feature of market highs. ______________ Energy The BPENER bullsih perent index for energy stocks has exhibited a series of lower highs sine, no surprise, the March highs following the Iran invasion. In hte last monthy the index bottomed at 15% late June, and topped at 67%, July 27. today it close dat 52.38, a big drop already. every energy stock on my page is down today. Oddly, some energy service stocks lik SLB are up, how cn this be, service is derivative of energy, not the driving force itself. So I watch from the sidelines. Oil's range today was 75.16 to 82.33, now 75.40, again taking out all recent 78 lows. The spread of junk bond yields versus AAA yields of the same maturity is widening, another sign of danger, no wonder given the billions of debt recently issued for AI 'investment.' Best guess is more new highs in stock indexes all aroound before a top is seen. It looks like Team Trump is so eager to claim some sort of Iran victory, lower oil and gasoline prices, they are likely to climb aboard any floating debris and declare victory. MOre tomorrow.