It's surprisingly strong action in view of the headline risk out of Ukraine and also the likelihood of a very hot CPI number on Thursday.
On Tuesday, a bevy of U.S. multinational corporations finally got around to heading for the exits from doing business in Russia.
The only way you can nail the bottom is to be willing to buy into the teeth of a decline.
President Biden is trying to coerce, rather beg, OPEC and other producers to pump more to avoid catastrophic consequences.
From a trading standpoint, the most important thing to keep in mind is that fundamentals and valuation aren't going to offer much protection.
There are fantastic opportunities developing, but the fundamentals are meaningless right now.
Professionally managed capital not only participated heavily on Monday, the pros showed some aggregate fear.
There are also signs that the market is looking ahead to the next phase in the Russia-Ukraine crisis.
Rising food prices could be a bigger story, from a negative perspective, than energy issues.
It appears that miners, drillers and defense contractors are still the places to be from an equity perspective. Everything else is a trade.