Egypt Concerns

Market got clobbered yesterday thanks to the Egypt unrest and fears about the Crude Supply disruption and ability to keep the traffic through Suez canal. Suez canal is the hub of the Crude traffic with millions of barrels of crude shiiped to western countries from the Oil kings.

Any disruption of this and closure of Suez means we will see a Spike in Crude and a Energy Crisis here in US.

The Over bought market used this as an opportunity to sell off a little and may well be a star of much needed correction.