.
.
The ZLT ended off 2.2% on the week last week as broad markets pulled back with interest rate concerns. This week earnings season kicks off with results from the first of the Oil Service names and reports heat up for the next three weeks as we cover 70 owned or name of interest energy names.
Questions under The Wrap will be addressed in the Subscriber Mailbag section of the Monday post.
Questions about the site may be sent to zmanalpha@gmail.com
IMO, Iran may have left an escape route for Israel to de-escalate. Perhaps Israel does strike targets within Iran, but I tend to think they’ll be superficial. The more meaningful strikes will be against Iranian proxies (Hellbollah, etc). 1-2 days to prove me wrong, it appears. If I’m right, we get a reasonable pullback in oil (no lower than mid-$70’s, at most), to refresh the drive higher. IMO, the new normal band for oil is $80’s to $90’s.
https://twitter.com/FirstSquawk/status/1779556781381017755