>>I suggest we continue to watch the POO, it is an important indicator. As it rises, it could lead to a sudden collapse in the stock and bond markets, particularly if the FED continues to loosen.<<
I eat cheese when my POO is loosened. <GG>
Iraq has cut back its oil supplies and OPEC meets (I think Sept 14th) but currently indicate they don't intend to increase output. However, there are non-Opec companies willing to fill any gaps and Numero Uno Opec country (SA) knows if the price gets too high they'll lose market share, perhaps permanently.
The imminence of war certainly can have an impact and is having a minor impact now, though war is likely 3 months or more away. But mostly, I'm seeing a fairly normal seasonal correction.
The negative impact of high oil affects the Dow more than Nasdaq, as well.
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