June 30 (Bloomberg) -- The U.S. won't allow Iran to shut the Strait of Hormuz, through which the bulk of Middle East oil is shipped, a spokesman for the Fifth Fleet said.
``They will not close it,'' Lieutenant Nate Christensen said in a telephone interview today from Bahrain, where the fleet is based. ``The Strait of Hormuz is vital international waters.'' Vice Admiral Kevin Cosgriff, Fifth Fleet commander, made similar remarks to reporters in Bahrain today, Christensen said.
Things are getting heavy out there and traders need to stick to a day trading plan, no big bets yet, although I still think there is a big rally coming any day. You just won't be able to trust it as long as oil is above 140. We are very oversold and as mentioned earlier, 7% away from the 20 dma for NDX/QQQQ. That would make any drop from here risky if short as the snap back could be quick. It's a trade, but only for fast hands. NQ 1815/1819 is a magnet, as we have another gap for NDX at 1795/1818.
``They will not close it,'' Lieutenant Nate Christensen said in a telephone interview today from Bahrain, where the fleet is based. ``The Strait of Hormuz is vital international waters.'' Vice Admiral Kevin Cosgriff, Fifth Fleet commander, made similar remarks to reporters in Bahrain today, Christensen said.
Things are getting heavy out there and traders need to stick to a day trading plan, no big bets yet, although I still think there is a big rally coming any day. You just won't be able to trust it as long as oil is above 140. We are very oversold and as mentioned earlier, 7% away from the 20 dma for NDX/QQQQ. That would make any drop from here risky if short as the snap back could be quick. It's a trade, but only for fast hands. NQ 1815/1819 is a magnet, as we have another gap for NDX at 1795/1818.
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