BTFATH Continues; Dow Opens +70 Points, Oil -1%

An Iran deal that is kinda sorta a deal but really is not a deal is all we need in the new normal to justify adding another few fractions onto the equity multiple valuation tree of hope. The S&P is up 9 points, Dow up 70 points, and WTI Crude is down around 1% on the news. Interestingly, stocks have no support from the almost ubiquitous carry traders as this appears more like a rip through the stop order stack more than another greater fool adding to their position.

 

    



Leave a Reply

Your email address will not be published. Required fields are marked *

26 + = 36

This site uses Akismet to reduce spam. Learn how your comment data is processed.