Willie Delwiche

I love how Trump is just casually calling this a "war" while everyone around him is vehemently denying it.

Impeach Lindsey Graham.

So according to the WSJ a US Senator conspired with another country to manipulate the US into starting a war, am I getting this right

Trump’s new favorite word is “munitions” - in retrospect, “groceries” and “affordability” never really had a chance.

You know who has some cards now? Canada. 🇨🇦

(via B of A) @mark-carney.bsky.social

Global breadth is breaking down:

Last week produced the most 13-week new lows among ACWI markets since December 2024.

If we are not at war, how can Iran unconditionally surrender?

Three reasons why Trump went to war with Iran:

1) Venezuela mission emboldened him. He thought this would be quick.

2) Netanyahu and MbS flattered him. He doesn't question their motives.

3) He wanted to change the poor trajectory of the GOP heading into the midterms.

YMMV

“Same regime, different leaders” seems to be Trump’s foreign policy MO.

The US didn’t have the cards.

“.. Inflation is NOT dead. Middle East to US tanker rates are now the HIGHEST IN HISTORY BY A LOT!”

- RB Advisors

Need more clips of him wearing his cowboy hat.

This is not an oil shock (yet)

Rubio: “Let me tell you, Iran is run by lunatics, religious fanatic lunatics.”

Noem heading to S.H.I.E.L.D.

FT comments section this morning - saying what everyone else is thinking, right?

Amodei seems like a good dude

Bear market in pastels.

“Miss Gnome” lol

So would I.

Our combat-operators from the Department of Combat Operations are conducting a major combat operation.

"The percentage of global markets hitting new highs in February contracted and for the first time this year, fewer than 70% of global markets are above their 50-day averages ... for the first time this year"

-Willie Delwiche, Hi Mount Research

Trump On Fence About Attending Ayatollah’s Funeral WASHINGTON—Carefully weighing the implications of his presence at a particularly tense moment in relations between Iran and the United States, President Trump told reporters Monday that he remained on...

“If I go, I think it’ll really make me look strong, like I’m fully in charge of this whole operation,” said President Donald Trump

Doublethink alert

Today is a good reminder that most of you don't hold enough gold in your long-term savings portfolio.

An infinite number of mathematicians enter a bar.

The 1st orders a beer.
The next says: "I'll have 1/2 of what he ordered"
The next says: "I'll have 1/2 of that..."

The bartender stops them, pours two beers and says:
"I get it, but you need to know your limits."

Each one of those three missiles costs 33% more than the annual budget of the national park where I work.

Same.

Sector strength starting to wane?

As of Friday's close, three S&P 500 sectors are now below their 200-day averages.

That is not not consistent with strength in the index.

Further, those 3 sectors alone make up >50% of the index.

Two categories of analysts who might take a step back, away from the microphone or keyboard, this weekend:

—Those who assured us that Trump was the real anti-war candidate.

—Those who assured us that invading Iraq was necessary and would work out great.