ALERT: TRUMP'S TARIFF WAR IS BACK AND IT'S NOT LOOKING GOOD!
In a Nutshell
Markets are consolidating amid tariff escalation with Canada and China, plus Iran-Pakistan talks on the Strait of Hormuz, making cash the safest position until clear trends emerge. Nvidia earnings tomorrow and Bitcoin's speculative nature are key watchpoints, with MicroStrategy shorts targeted at $82K-$85K levels. Dick's Sporting Goods dropped 27% post-earnings miss and is now trading at 17x P/E with 27% analyst upside, while Micron sits near breakeven.
These notes were generated by AI and may contain inaccuracies.
Pakistan and Iran held talks in Tehran regarding reopening the Strait of Hormuz. Iran wants the US to return to the Islamabad agreement and specifically wants clause five implemented, which calls for bilateral understanding between Iran and Oman on managing the Strait. Pakistan is expected to relay these conditions to Washington. Markets initially celebrated the conversation but began selling off as escalation continued. Oil prices are dropping, which may help bring inflation back down, though the ongoing deal-no-deal situation makes sustained price stability unlikely if threats of attack continue.
Additional tariffs on China increased by 7.5%. Canada responded to current tariffs with 50% tariffs on steel (up from 25%) and tariffs of 15%, 25%, and 50% on 700 products effective September 8th. This marks the beginning of a new tariff war with Canada.
Markets gapped up overnight, pulled back after open, and are currently consolidating. The recommendation during uncertain, choppy market conditions is to stay cash rather than take aggressive positions. When trends are clearly in favor for either long or short positions, trading becomes significantly easier due to consistent directional momentum. Current market lacks this clear direction.
A small open position exists on Micron, currently teeter-tottering around break-even with a gain of approximately $300-400. The position remains flexible for taking advantage of potential downside opportunities without forcing trades during uncertain conditions.
Sign in to read the full notes
Get access to AI-generated notes, topic timestamps, and more.