War in Gaza

This crossed ZeroHedge which says Netanyahu does not rule out the possibility of war against Gaza as early as tonight. I was wondering about this possibility as my mind rambled when I saw an earlier article today that the Iron Dome (which was controversial in its deployment "if" it did not work) actually did work. Think of the Iron Dome as Israel's Patriot Missile Battery more or less as it's designed to stop incoming rockets from Gaza. The line of thought was if it didn't work, then it may invite a barrage of never-ending rocket fire out of Gaza, but it did work, which gives Israel some security should they decide to probe deeper into Gaza on a military endeavor.

What this means for the market, well for one it'll spook the heck out of Japan and #2) while I've witnessed oil completely ignore developments out of MENA (specifically oil failed to react much during much of the Egyptian crisis, although I believe there was a specific reason why), oil does not seem to ignore developments having to do with Israel. So no matter what the 3C charts may say about a corrective pullback in oil, no matter how overbought oil may appear to be, if things start heading south in the region, I'd expect oil to head dramatically north. You may want to consider that fi you are holding USO or other oil investments.