$Direxion Daily Semiconductors Bear 3x Shares(SOXS)$ I'm not in this, but the drop here clearly looks tied to oil futures plummeting. The bigger question is why oil is falling. Arabia is moving more oil through Hormuz and less through pipelines. That's not good, that's worse than before the eastern pipeline was destroyed, especially now that the US and Iran are making even more threats. The market is being very irrational. It may be worth loading up toward EOD because diplomacy in the Mid East is not going to produce more fuel any time soon, and it certainly won't rebuild pipelines immediately. If talks sour, oil prices will go even higher, which pushes markets lower.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
