π¨ US Markets Set to Get Crushed Today
WTI crude just opened at $107 β up 18.36%.
US futures extending losses: Dow -2%, Nasdaq -1.65%, S&P -1.7%.
My take:
Expect SPR release either later today or tomorrow to cool oil prices. Tomorrow more likely β Trump Jr. bought oil pre-war, so probably waiting for his exit.
Pre-market looking red. If dip isn't too deep, could be a safe-haven play.
Shorts, hold tight. Today's still yours.
But here's the catch: SPR release gives maybe one green day. Real issue? Strait of Hormuz not navigable. No transit = no price drop. This is the ugly part.
Morgan sees $145 oil. Looking increasingly possible.
Game plan:
- Aggressive: Small long on oil. Reopening strait? Not happening soon.Conservative: Don't chase. Wait for pullback to short. If you're caught long here... could be a long wait.
Bigger picture: This won't end fast. Escalation likely. Oil hits US economy hard β but US won't fold and withdraw. Sunk cost + third carrier on the way = they'll see it through.
For now? Hope oil opens high and fades.
π’οΈπ Stay safe out there.
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