jumping this morning.  I am going to take off half my hedges, and probably the rest when SIL and GDX hit 90.  A bit of a risk, but it looks like the markets are sniffing out a peace deal that will last.   Will their be bumps and posturing, for sure.  But I think the military pressure from the US and the political pressure from other ME countries will dive Iran to embrace economic incentives rather than military power.  They now  know we will bomb the shit out of them, so the logical step would be to embrace the economic rewards for those in power while still screwing over the general population, you know, just how it works in the US and Canada.  We already know the IRGC loves money as they basically owned half the oil supply and profits from it to drive military purchases.  The rub here is who will now lead the IRGC?  If US lets the IRGC function as it did, it’s just kicking the can down the road, so the details will be very interesting.

May you live in interesting times!