Buuuuuy Equities!

This rally in stock futures today has one explanation: OIL! Since the plunge in equities last week was driven by the high price of crude oil, this rally can only be explained by today's plunge in the price of oil. If you have read John Mauldin's newsletter to which I posted a link over the weekend, you would also know what the forecast is for the price of crude oil, and especially that impact of all that oil sitting in tankers off the Iranian coast. Needless to say, the strength and duration of this rally will depend largely on the strength and duration of the sell-off in oil. But for now, BUY equities!