Buildup prior to the invasion was a steady week of lower prices in January, until 17 Jan 1991 when coalition forces took control of skies over Baghdad and destroyed Iraqi air and ground forces.
Overlay is Jan 1991. 17 Jan was the night invasion. 18 Jan the market took a moon shot.
Once it became apparent that our guys were winning, bulls took over and the rise after the event was double the decline. The buying spree the day after the night bombing of Baghdad was phenomenal... a moon rocket.
Be real careful shorting now. Soon it will become apparent the nutjobs cannot win these conflicts. Relief rally may reach new ATH at 5360+ within a few weeks.
Everyone wants puts, all are short, VIX is jumping... that's not a good time to get short. Bottom of this shakeout sometime this week imo.
Overlay is Jan 1991. 17 Jan was the night invasion. 18 Jan the market took a moon shot.
Once it became apparent that our guys were winning, bulls took over and the rise after the event was double the decline. The buying spree the day after the night bombing of Baghdad was phenomenal... a moon rocket.
Be real careful shorting now. Soon it will become apparent the nutjobs cannot win these conflicts. Relief rally may reach new ATH at 5360+ within a few weeks.
Everyone wants puts, all are short, VIX is jumping... that's not a good time to get short. Bottom of this shakeout sometime this week imo.
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Yeah history doesn't repeat and this time it doesn't even rhyme.
Startling bearishness suggests impulsive move ongoing.
Short the rallies.
Startling bearishness suggests impulsive move ongoing.
Short the rallies.
'Shock' news events rarely last more than a day or two!