SHORT CRUDE

“All Trump wants to do is, in my opinion, is he just wants to have a demonstrated win. And if he can have a demonstrated win coming out of this conflict that he started, then he'll be satisfied and he'll declare a peace treaty or whatever they want to call it. And the markets are just sniffing that out.”

“Bitcoin is holding strong at $75,000, even as peace talks are seemingly falling apart in Iran. Every day, we have a new headline that conflicts with the headline we saw yesterday. Hell, every hour, we seem to have a headline that conflicts with the headlines we saw just an hour ago. But with all of that happening, as I said, Bitcoin is still strong and markets still relatively resilient.”

“It's this 10- to 12-day return we have had in the stock market. It's the most in about 100 years. And it rarely happens outside of bear markets. We know sharpest rallies usually happen in bear markets. Typically when these things happen, the next period afterwards, usually market continues to trade well.”

“I fully expect that to happen to crude oil, so I re-iterated my call that WTI crude oil might get to $40 a barrel in 4Q. Just find what natural gas did, because it went up too much. And the key theme for that is what does Mr. Trump want. It's a normal cycle. And the key prerequisite for that is the stock market going down, which it's not doing right now.”

“You've got a K-shaped economy that we keep talking about. And so yeah, the market is the economy in the sense that it needs to stay high for us to avoid a recession, right? And that is clear. Trump talks about the market nonstop and he hasn't this term as much. But the first term, you remember, is almost every single press conference he was talking about the market.”