Tuesday Watch

Around X:

• @Business  

• The US sanctioned a dozen entities for helping sell Iranian oil to China, stepping up its economic pressure as President Donald Trump cast doubt on a continued ceasefire with Tehran. 
• China investors are counting on the summit between Xi Jinping and Donald Trump to deliver just enough to sustain the detente trade underpinning stocks and the yuan. 
• US House lawmakers asked Jes Staley, a former top executive at Barclays and JPMorgan Chase, for an interview in its ongoing probe into Jeffrey Epstein.
• The number of new foreign undergraduate students at US colleges dropped by an average of 20% this spring from a year earlier, according to a study by a coalition of education groups.
• UnitedHealth said it will move away from having profits in its pharmacy benefits unit linked to the list prices of medications, the latest move to address longstanding criticisms of its business model. 
• Here’s what you need to know to start your day.

• @ZeroHedge

• Trump has grown increasingly frustrated with how the Iranians are handling negotiations to end the war, and some Trump aides say that he is now more seriously considering a resumption of major combat operations than he has in recent weeks.         
• "No More Nakedness": Spencer Pratt's L.A. Mayoral Plan To Restore Order 'In Weeks' Has Democrats In Panic Mode.
• California Mayor Indicted, Will Plead Guilty To Being CCP Agent.
• Iran Executes Top Young Aerospace Scientist, Alleging CIA & Mossad Ties.
• Ok, so the AG of Virginia, Jay Jones, has filed an emergency appeal to the United States Supreme Court asking them to overrule the Virginia State Supreme Courts ruling, and while he may have sent it through spellcheck this time, he failed to change templates..because this one is still going to the Supreme Court of Virginia. The incompetence is mind blowing.            
• A supertanker docked in Long Beach just delivered California’s last incoming shipment of Middle Eastern oil, a milestone for drivers already paying the nation’s highest fuel prices. 
• After the Louisiana ruling, the message is clear: race can no longer be the dominant factor in drawing maps. Red states now have stronger legal ground to draw fair, population-based districts. The artificial Democrat advantage from racial gerrymandering is collapsing.
• Trump Floats Making Venezuela The 51st State.
• 'Mediator' Pakistan Hosted Iranian Military Aircraft To Insulate Them From US Attacks, Graham Fumes At Islamabad.
• US To Develop Small Modular Nuclear Reactors For Commercial Shipping.
• No, AI Won't Make Money Obsolete.
• *BYRON ALLEN TO MAKE MAJORITY INVESTMENT IN BUZZFEED.
• Billionaire Bucks Co-Owner Alleges $1 Billion Blackmail Plot After Affair With China-Born Entrepreneur.
• Netanyahu Says He Wants To End Annual US Military Support For Israel. 
• Watch: Lockdown Architect Deborah Birx Smirks Over PCR Testing For Hantavirus.
• Trump Mulls Renewed Military Action As Ceasefire "On Life Support"; Treasury Again Targets Iran's Oil To China.
• Oil Up, Stocks Up, VIX Up, Yields Up As Iran Peace-Deal Hopes Plunge.        

• @CNBC

• Oil prices extend gains as Trump comments diminish hopes for a U.S.-Iran peace deal.
• Streaming companies are discovering that their most valuable customers may not be the ones paying the most. Instead, it’s increasingly the viewers who watch the most. 
• Asia markets set to rise as investors brush off Trump’s ceasefire warning.
• Tuesday's big stock stories: What’s likely to move the market in the next trading session.
• Stock futures are little changed as traders await inflation reading, monitor Iran war developments: Live updates.
• Stocks making the biggest moves after hours: Hims & Hers, Gitlab, Cleanspark, Webtoon Entertainment & more.
• OpenAI revenue chief Dresser says enterprise AI adoption is 'at a tipping point'.

• @MarioNawful 

• Epstein’s network was even darker than we knew. Newly released docs expose how he and his crew recruited young girls and models from Poland, Lithuania, Latvia & across Eastern Europe... many from desperate economic situations. Epstein personally oversaw selection and flew them to Paris & New York. Thousands of pages… and still almost zero accountability. (video)

• @ShadowofEzra

• Benjamin Netanyahu threatens social media platforms for allowing criticism of Israel and admits Israel is preparing to declare a massive war against the platforms. Netanyahu says they have not fought back yet, but they will be forced to do so now. REPORTER: “The numbers are out of balance.” BENJAMIN NETANYAHU: “There has been a concerted effort by several states to vilify Israel on social media.” (video)

• @ChildrensHD

• Jeffrey Tucker exposes the dark truth behind Covid policies: It was all conditioning. “The whole point of the lockdowns was to prepare the population for the shots.” “To keep people apart so they wouldn't acquire natural immunity.” “To preserve immunological variety as long as possible.” “That's the reason for the masks.” “For the distancing.” “For the closures.” “That was the reason for the banning of therapeutics.” “Why you couldn't get Ivermectin… or Hydroxychloroquine.” “They were taken off the market.” “The reason?” “They wanted one solution.” “One solution only, which was a shot that had been indemnified against all harms.” “So it didn't need to be safety tested because even if it wasn't a safe shot, it wouldn't matter.” “The companies were not held liable for it.” “If you got sick and died, survivors couldn’t sue Pfizer or Moderna.” “There's a liability shield for them.” “They had a lot of money to be made.” “A lot of shots to be distributed.” (video)

• @BGatesIsaPsycho

• Florida Everglades are on Fire right now. Thousands of Acres, of which currently 0% is contained. Don’t question though why the Fire is burning in a perfectly straight narrow line… (video)

• @BowesChay

• Riddle me this- People die from Hantavirus every year- No panic. Last year more died than usual- No Panic. This year, so far less have died, including those on the Ship- Why the massive coverage? (graph)

• @EricLDaugh

• HUGE NEWS: Costa Rica’s new President Laura Fernandez is going RED PILL MODE — plans to launch a mega prison and REMOVE judges just like Nayib Bukele in El Salvador. “[Prison] won’t do any good if the judges keep releasing dangerous criminals!” (video)

• @HealthRanger

• Sulfuric acid is critical to the world's industrial supply chains. Without it, many rare earth minerals can't be extracted, either. Things are going to get very, very bad if the straight stays closed through the summer...

• @NicHulscher

• U.S. AND U.K. ARE ACTIVELY PREPARING PLANS TO MASS VACCINATE POULTRY AGAINST H5N1 BIRD FLU. Their leaky vaccines could contaminate our food supply, fuel dangerous mutations, and spark a human pandemic. This must NEVER be allowed to happen.
• LESS THAN 24 HOURS REMAIN TO CHARGE ANTHONY FAUCI FOR THE WORST COVER-UP IN PUBLIC HEALTH HISTORY. We have IRREFUTABLE EVIDENCE that he 100% LIED UNDER OATH claiming NIH never funded GoF at Wuhan and ORDERED destruction of evidence! MILLIONS of innocent people have been killed. Among the MANY crimes, this is by far the EASIEST TARGET. However, there are NO statutes of limitations for TREASON and CRIMES AGAINST HUMANITY. (video)

• @JohnnyMaga

• Trump just reposted this. (pic)

• @KobeissiLetter

• Overseas investors are piling into US stocks: Foreign investors now allocate a record 63% of their US financial assets to equities. This percentage has more than DOUBLED since the 2008 Financial Crisis. This also surpasses the 2000 Dot-Com Bubble peak by ~10 percentage points. By comparison, the long-term average allocation is ~40%. As a result, foreign investors now own a record $21.3 trillion in US stocks and equity funds, surging +170% since 2020. Foreign investors are doubling down on US markets.

• @JoshHall2024

• BREAKING: RINO GEORGIA GOVERNOR KEMP, SECRETARY OF STATE RAFFENSPERGER ATTEMPTING TO BLOCK FULTON COUNTY BOARD OF ELECTIONS FROM TURNING OVER VOTER DATA TO DOJ.

• @themagaking

• Imagine having to explain to your children why America fell. We had the presidency. We had the House. We had the Senate. We had the Supreme Court. But one Republican senator named John Thune refused to pass the SAVE Act. And because of that, illegal immigration, fraud, and corruption overwhelmed the system, and the America we once knew slowly ceased to exist.

Night Trading 

• Asian equity indices are -.75% to +.25% on average. 
• Asia Ex-Japan Investment Grade CDS Index 72.5 +.75 basis point. 
• China Sovereign CDS 41.25 .75 basis point.
• China Iron Ore Spot 111.45 USD/Metric Tonne -.13%. 
• Crude Oil 99.05/bbl. +1.0% 
• Gold 4,735.7 USD/t oz. +.17%. 
• Swiss Franc/Offshore Chinese Renminbi Cross 8.71 -.18%.
• Bloomberg Emerging Markets Currency Index 35.52 -.11%.
• Bloomberg Global Risk-On/Risk Off Index 119.0 +.3%
• US 10-Year Yield 4.42% +1.0 basis point.
• Japan 30-Year Yield 3.81% +2.0 basis points. 
• Volatility Index(VIX) futures 21.1 +.3%.
• Euro Stoxx 50 futures -.70%. 
• S&P 500 futures -.23%.
• NASDAQ 100 futures -.50%.

Morning Preview Links

BOTTOM LINE: Asian indices are mostly lower, weighed down by consumer discretionary and technology shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed.  The Portfolio is 75% net long heading into the day.

Stocks Slightly Higher into Final Hour on Earnings Outlook Optimism, Technical Buying, Short-Covering, Tech/Alt Energy Sector Strength

Economic/Market Gauges:

• North American Investment Grade CDS Index 53.1 +.4%
• BofA Private Credit Proxy Index 73.9 -2.2% 
• Bloomberg US Securitized MBS/ABS/CMBS Avg. OAS .22 unch.
• BofA Global Financial Stress Indicator -.13 -4.0 basis points
• European Financial Sector CDS Index 59.0 -.6%
• Emerging Market CDS Index 156.4 +.6%
• Israel Sovereign CDS 63.0 -.8% 
• Bloomberg Global Trade Policy Uncertainty Index .8 -.1
• US Morning Consult Daily Consume Sentiment Index 86.7 -1.6

• Citi US Economic Surprise Index 36.4 +1.7

• Citi Eurozone Economic Surprise Index -57.9 -9

• Citi Emerging Markets Economic Surprise Index 49.9 -3.3
• S&P 500 Current Quarter EPS Growth Rate YoY(447 of 500 reporting) +25.3% -.2 percentage point
• S&P 500 Blended Forward 12 Months Mean EPS Estimate 353.68 +1.53:  Growth Rate +27.6% +.5 percentage point, P/E 21.0 +.1
• S&P 500 Current Year Estimated Profit Margin 15.42% +6.0 basis points
• NYSE FANG+ Current Quarter EPS Growth Rate YoY(8 of 10 reporting) +62.1% unch.
• NYSE FANG+ Blended Forward 12 Months Mean EPS Estimate 852.97 +2.54: Growth Rate +115.4% +.6 percentage point, P/E 20.4 +.5 
• Bloomberg US Financial Conditions Index 1.17 +14.0 basis points
• US Yield Curve 46.0 basis points (2s/10s) -1.5 basis points
• Bloomberg Industrial Metal Index 185.0 +2.2%
• Dutch TTF Nat Gas(European benchmark) 46.6 euros/megawatt-hour +5.6% 
• US Recession Within 6 Months Probability(3M/18M Forward Yld Curve Spread) 17.0% -.8 percentage point
• US Atlanta Fed GDPNow Q2 Forecast +3.7% unch.
• US 10-Year T-Note Yield 4.41% +6.0 basis points
• 1-Year TIPS Spread 3.10 +10.0 basis points

• Highest target rate probability for July 29th FOMC meeting: 93.6% (+6.2 percentage points) chance of 3.5%-3.75%. Highest target rate probability for Sept. 16th meeting: 89.2%(+2.8 percentage points) chance of 3.5%-3.75%. (current target rate is 3.5-3.75%)
  

Overseas Futures:

• Nikkei 225 Futures: Indicating +440 open in Japan 
• China A50 Futures: Indicating +30 open in China

• DAX Futures: Indicating -29 open in Germany

Portfolio:

• Higher: On gains in my tech/industrial/energy sector longs
• Disclosed Trades: Added to my (IWM)/(QQQ) hedges
• Market Exposure: Moved to 75% Net Long

Bear Radar

Style Underperformer:

• Large-Cap Growth +.1%

Sector Underperformers:

• 1) Gambling -3.0% 2) Retail -3.0% 3) Computer Services -2.9%

Stocks Falling on Unusual Volume: 

• APH, PAX, ANET, ONT, PUBM, HE, TDS, MELI, DSP, VIV, TMDX, SBH, AVTX, ISRG, ALHC, ZTS, NEXA, AORT, WHR, ELF, CELH, SHAK, PAHC, DBX, DCBO and PSIX

Stocks With Unusual Put Option Activity:

• 1) DGXX 2) SE 3) SHAK 4) SERV 5) INOD

Stocks With Most Negative News Mentions:

• 1) DRCT 2) ALIT 3) PRKS 4) DG 5) CWH

Sector ETFs With Most Negative Money Flow:

• 1) MISL 2) XLV 3) SOXX 4) IGV 5) XLE

Charts:

• ETFs Falling on Unusual Volume
• Stocks Falling on Unusual Volume

Bull Radar

Style Outperformer:

• Small-Cap Growth +1.4%

Sector Outperformers:

• 1) Alt Energy +5.5% 2) Nuclear +4.4% 3) Gold & Silver +4.1%

Stocks Rising on Unusual Volume:

• MRAM, GSIT, BZH, WYFI, NVTS, VCX, BW, POET, DRTS, DXYZ, LQDA, INOD, AAOI, FCEL, HIMX, CRCL, AEVA, TH, LITE, ALMU, IONQ, UMAC, RVI, RKLB, RDW, COHR, LUNR, OUST, ADEA, ASST, ASIX, P, BE, BELO, ASTS, AMPX, HYMC, LASR, GLW, IX, APLD, LPTH, EXK, SOLS, WOLF, HL, MLTX, OKLO, PRIM, PRCT, SMTC, B, NOK, RGTI, AEHR, QBTS, DSGN, SVM, DSGN, SHAZ, BLLN, URGN, ACMR, VOYG, ZLAB, ALM, ELVA, QCOM, MU, GLIBK, EQPT, NNE, QUIK, INFQ, AG, PCT, FSLR, CRK, PDFS, SITM, STX, CRK, MDA, LINC, KGS, WLDN, FBRX, SIMO, QUBT, LMB, HIMS, SARO, UUUU, LMB, SONY, JKS, FN, AMN, KYIV, SPIR, AKAM, CDRE, PSLV, CDRE, PLNT, PUMP, INR, LI, EIKN, PZZA, LWLG, AKAM, SION, FOXA, DQ, RAL, AAMI, HUT, ETN, UNIT, PAR, ASYS, AGO, XIFR, AMBA, CMP, ASYS, AIP, SMMT, CLSK, CAMT, MNDY, PTCT, CAPR, VECO and INSM

Stocks With Unusual Call Option Activity:

• 1) SONY 2) GSIT 3) MRAM 4) AEVA 5) BTBT 

Stocks With Most Positive News Mentions:

• 1) LITE 2) RKLB 3) BZH 4) DRTS 5) LQDA

Sector ETFs With Most Positive Money Flow:

• 1) DRAM 2) FTXN 3) SMH 4) XLI 5) IYW

Charts:

• ETFs Rising on Unusual Volume
• Stocks Rising on Unusual Volume

Tomorrow's Earnings/Economic Releases of Note; Market Movers

Earnings of Note 
Company/Estimate 

Before the Open:

• (AZN)/2.49
• (CAMT)/.68
• (AG)/.31
• (ONON)/.27
• (ZBRA)/4.25 

After the Close: 

• (BGS)/.05
• (KRMN)/.12
• (NXT)/.92
• (OKLO)/-.19 

Economic Releases 

6:00 am EST

• The NFIB Small Business Optimism Index for April is estimated to rise to 96.1 versus 95.8 in March.  

8:30 am EST

• The CPI MoM for April is estimated to rise +.6% versus a +.9% gain in March.
• The Core CPI MoM for April is estimated to rise +.3% versus a +.2% gain in March. 

2:00 pm EST

• The Federal Budget Deficit for April is estimated at $219.0B versus -$164.1B in March. 

Upcoming Splits

• None of note

Other Potential Market Movers

• The Fed's Goolsbee speaking, Fed's Williams speaking, 10Y T-Note auction, ADP weekly employment change, real avg. weekly earnings YoY for April, weekly US retail sales reports, EIA short-term energy outlook report, WASDE report, API weekly crude oil stock report, BMO Chemicals Conference, Canaccord Genuity Nuclear Nexus Fission/Fusion Forum, BofA Healthcare Conference, BofA Industrials/Transports/Airlines Key Leaders Conference, (MTZ) investor day, (LMT) annual meeting, (MMM) annual meeting, (NEM) annual meeting, (COP) annual meeting, (CSX) annual meeting, (CMI) annual meeting, (KNX) annual meeting, (KTOS) annual meeting, (DKNG) annual meeting, (WERN) annual meeting and the BofA Metals/Mining/Steel Conference could also impact global trading tomorrow.

US Equity Market Hours

• 9:30 am - 4:00 pm EST

Mid-Day Market Internals

NYSE Composite Index:

• Volume Running +10.0% Above 100-Day Average 
• Nasdaq/NYSE Volume Ratio 19.1 +8.9
• 6 Sectors Rising, 5 Sectors Declining
• 42.0% of Issues Advancing, 55.8% Declining 
• TRIN/Arms .97 -48.4%
• Non-Block Money Flow +$20.5M
  
• 126 New 52-Week Highs, 68 New Lows
• 55.9% (-2.5%) of Issues Above 200-day Moving Average
• Average 14-Day RSI 53.3 -3.3

Polymarket: 

• Will China invade Taiwan by end of 2026? 7.0% +1.0 percentage point
• Trump announces US blockade of Hormuz lifted by May 31st 25.0% -23.0 percentage points
• US x Iran permanent peace deal by June 30th 42.0% -3.0 percentage points 
• US Invades Iran before 2027 28.0% +6.0 percentage points

Other:

• Bloomberg Global Risk-On/Risk-Off Index 119.0 +.9%
• Global Monitor Iran Instability Index 100.0 unch.
• Strait of Hormuz Oil Tanker Traffic Curtailed Estimate 85.0% -5.0 percentage points
• US High-Yield Tech Sector OAS Index 458.25 -6.75 basis points
• Bloomberg Cyclicals/Defensives Index 260.1 +.5%
• Morgan Stanley Growth vs Value Index 153.6 +1.7%
• CNN Fear & Greed Index 68.0 (GREED) -1.0
• 1-Day Vix 9.4 -26.0%
• Vix 18.0 +4.8%
  
• Total Put/Call .72 -4.0%

Monday Watch

Around X:

• @Business  

• President Donald Trump is likely to press President Xi Jinping over China’s approach to Iran when they meet later this week, senior US officials said Sunday. 
• Beijing officially announced the date of Donald Trump’s state visit this week, publicly green-lighting the first US presidential trip to China in nearly a decade despite tensions over the Iran war.
• Get up to speed on what's moving global markets.
• Here’s what you need to know to start your day.  

• @ZeroHedge

• *QATAR GAS SHIPMENT CLEARS HORMUZ AFTER PAKISTAN-IRAN TALKS: FT.
• “Captain” Mark Kelly strikes again. Now he’s blabbing on TV (falsely & dumbly) about a *CLASSIFIED* Pentagon briefing he received. Did he violate his oath…again? -@PeteHegseth.    
• The Gerrymander Debacle In Virginia Leaves The Democratic Party With A Dangerous Agenda.
• Kim Jong Un Creates Ultimate Deadman Switch: North Korea To Auto-Launch Nukes If Assassinated.
• "They'll Be Laughing No Longer": Trump Rejects Iran Peace Deal Response As "Totally Unacceptable".
• These Are The Biggest Market Dislocations Deutsche Bank Is Watching Right Now.
• Vegetable-Oil Inflation Sends World Food Prices Higher.
• Once again--Iran officials acting as tho a deal is very close (if not already reached). Addressing next steps, ie guarantees through third parties.
• *TRUMP: I DON’T LIKE RESPONSE FROM IRAN, “TOTALLY UNACCEPTABLE”.
• Earnings Estimate Revisions Are Very Optimistic.
• Secret Israeli Base Hidden In Iraqi Desert Backed Operations Inside Iran.
• Netanyahu and Trump will speak tonight -Kann.
• HOLY SMOKES. Hakeem Jeffries’ House Dems have discussed FIRING the VA Supreme Court to reinstate the 10D-1R House map. They’d do it by having VA LOWER the retirement age and kick out justices — then invalidate the redistricting rules. PSYCHOS!           
• Iran Responds To US Peace Proposal, While Threatening 'Decisive' Strike On UK, French Warships If They Approach Strait.
• Spencer Pratt Surges In L.A. Mayoral Race As Democrats Grow Nervous.
• Morgan Stanley Lays Out The Dramatic Changes In AI Infrastructure Financing.
• Housing Market's Crucial "Spring Selling Season" Is In Tatters.
• Winning? Do We Need To Understand UBI.
• Iran Responds To US Peace Proposal, As Ayatollah Meets With Top General To Discuss 'Readiness'.
• The US has received $2.1 tn of net inflows into equities & fixed income in the past 1½ years, while the rest of the G10 have seen zero..
• What Would Be Truly Bullish? Actually Fixing What's Broken.
• Aramco just confirmed what the data already showed. Even if Hormuz opens tomorrow — rebalancing takes months. And if the closure extends a few more weeks? Normalization pushed to 2027. This means: June → Operational Stress Level (7.6B barrels). September → Operational Floor (6.8B barrels). 2027 → earliest possible normalization. The market is not pricing a 2027 recovery timeline. It’s pricing a quick fix that Aramco just said won’t happen. This changes everything.
• The Most Direct Social Engineering Propaganda You'll Ever See.
• Maersk CEO Warns Iran War Is A "New Wake-Up Call" For Global Trade.
• AI Is Losing The PR Battle And The Consequences Could Be Huge.
• How Governments, Corporations, & Technocratic Systems Are Quietly Redefining Ownership In The 21st Century.
• Chinese EVs Absent From U.S. Roads, But Parts Under The Hood Are Alarming.
• Cameco Sees As Many As 20 AP1000 Nuclear Reactors On The Horizon.
• As a Greek woman, I cannot stay silent… I owe this to my Ancestors ! BOYCOTT Nolan’s "The Odyssey" that has completely altered Homer’s epic.   
• "Exponentially Deteriorating": Baltimore's Lawlessness Spreads Into Suburbs As Democrats Lose Control.
• From Civilian To Military Economy: This Is What A Declining Empire's Economy Looks Like.
• "Dateflation": 40% Of Singles Are Going On Fewer Dates Due To High Costs.       

• @CNBC

• CNBC Daily Open: Iran proposes, Trump opposes, Xi watches. 
• Oil climbs as Netanyahu warns Iran conflict is ‘not over,’ Trump rejects Tehran's proposal. 
• Asia markets set to open mixed as oil jumps on Trump rejecting Iran proposal.
• Stock futures tick lower as investors monitor the latest Iran war negotiations: Live updates. 
• Cerebras to raise IPO price range to $150 to $160 a share as demand surges, sources say.

• @MarioNawful 

• The food you eat every day is banned in Europe. Not some of it. Most of it. American strawberries are sprayed with pesticides linked to hormone disruption and cancer that are banned across Europe. Drop one in salt water and see what comes out. American white bread contains potassium bromate, a cancer-linked chemical banned in the EU, Canada, China, and India. The FDA hasn't reviewed it since 1973. Same products. Different standards. And Americans eat this every single day. Watch the video. (video)

• @ShadowofEzra

• Benjamin Netanyahu insinuates that only he will decide when the war against Iran will end and is demanding that uranium be removed from Iran. Netanyahu hints that he wants the United States to go inside Iran and physically remove the enriched uranium by force. “You go in and take it out — that’s the best way.” “There’s work to be done.” (video)
• The Director of the World Health Organization, Dr. Tedros, says every country in the world is now expected to fall in line with his International Health Regulations because of hantavirus. He says it is now a moral obligation for nations to submit to and believe in his Global Health Order. "It's only when we support each other that we can respond more effectively to viruses and outbreaks." "Countries are expected to cooperate based on International Health Regulations." (video) 

• @OunkaOnX

• Douglas Macgregor: Netanyahu has something he's never had before - complete control of the US Armed Forces. Absolute allegiance and obedience of the US President and Congress. He knows he has to use it or lose it. Macgregor says Netanyahu knows this window is closing. He has to use America's remaining power now - or the "Greater Israel Project" collapses. (video)

• @MJTruthUltra

• This isn’t a coincidence… Barrack Hussein Obama is now meeting with leaders of other nations. It just so happens that the month of May Q Deltas are LITTERED with mentions of Barrack Hussein Obama running a SHADOW PRESIDENCY effort against President Trump via…. Wait for it… efforts to meet with world leaders either ahead or after President Trump. All of this is coming full circle. Obama is a traitor to the United States of America. He was installed as President by foreign powers. He was part of a 16 year plan to destroy America (Obama + Hillary). When she lost. They ALL lost. Now all of their crimes are catching up to them. They have NO CHOICE but to try to fight their way out of this. But there is no way out of this. They will all be charged with Treason. (video) 
• This is crazy… Rep. Tim Burchett claims that Elon Musk revealed to him that NGOs have funneled more than $1 TRILLION into foreign countries such as Afghanistan. According to Burchett, the money is then washed and laundered back into the United States to help fund Democratic campaigns. He believes some Republicans are also involved. (video) 

• @RenzTom

• Universal digital track and trace is here! The Trump Administration’s FCC is now pushing to mandate tying your phone number to the REAL ID system or another form of ID. This means no more anonymity on the internet, and your incognito mode or private browsing is meaningless. The government will be able to legally track EVERYTHING you do by simply buying the records from your phone provider, and it will then be legally official. This is NOT MAGA and is much more like the great reset we just fought Biden to stop.

• @LaraLogan

• Without accountability for treason & sedition, everything Trump has done will be reversed. Overnight. (video)

• @TheSCIF

• Sidney Powell blows the lid off of the stolen 2020 election. "There is so much evidence!" From Dominion switching votes, to foreign connections going all the way back to Smartmatic. These judges and DAs never even looked at any evidence, they were compromised from the start. The CIA knew what these machines were capable of and brushed it under the rug to control election outcomes. (video)
• Michigan 2020 election worker found that EVERY Military Ballot that was logged into the system had a birthday of 1/1/1900. When she asked the election supervisor to challenge the military ballots, she replied, "We're not doing that." The 2020 election was stolen. (video) 

• @JimFergusonUK

• REP. LUNA: “THIS IS A LOT BIGGER THAN ANYONE ANTICIPATED.” After meeting directly with Epstein survivors, Rep. Anna Paulina Luna says the scandal may reach far beyond what the public has been told. Her warning was blunt: “There are some very rich and powerful people that need to go to jail.” Even more explosively, Luna stated it is “very much so a possibility” that Jeffrey Epstein was operating as an intelligence asset. That changes everything. Because if true, this was never just about one predator. It raises far bigger questions: (video)

• @VenkatP135

• Why I doubled my position in $GLW after its annual investors day this week. (pic)

• @disclosetv

• NEW - India's PM Modi calls for citizens and ‌businesses to conserve fuel, carpool, use electric cars and adopt the Covid-19 strategy of working from home, "in the interest of the country."

• @RedactedNews

• Billions in lithium under the Carolinas. The DoD knew. Then Helene hit. Then FEMA made rebuilding nearly impossible. @annvandersteel has been on the ground. Every homeowner she spoke to knew exactly what was happening. (video)

• @Real_RobN

• Here it is: Virginia voters are waking up today shocked to find out that Virginia Democrats are voting to exempt themselves from the new gun control measures they are imposing—while letting out illegal murderers, rapists, and pedophiles into their sanctuary state. The provision in this section explicitly says, “shall not apply to any member of the General Assembly.” (video)

• @BrettWeinstein

• This is indefensible: Spraying glyphosate over wild lands is ecocide, and toxic to humans, of course. But there is one upside: It allows us to see the full corruption of our system, which pretends to be preoccupied with our health, even as it poisons the world behind our backs.

• @HealthRanger

• Flock cameras now track and fingerprint human voices... suddenly it's a mass spying network for YOU! (video)

• @NicHulscher

• ONE DAY BEFORE the hantavirus fear campaign began…WHO pandemic treaty talks COLLAPSED prompting Tedros to warn ​the next ​pandemic was "a matter ⁠of when, not if." Then suddenly… ONE DAY LATER... the cruise ship hantavirus media frenzy exploded. Don't fall for the Bill Gates-WHO pandemic profiteering complex. (video)

• @DiligentDenizen

• UFC PRESIDENT DANA WHITE HAS EPSTEIN-LIKE PAINTINGS ON WALL IN HOME. When showing off a title belt, Dana had a painting of a sex act behind him. AND, a portrait of child with blue butterflies Butterfly—sign associated with sex trafficking survivors. What is going on here? (video)

• @copesint

• I'm coming out of private because this hantavirus thing is getting ridiculous. Before I explain the facts of the virus, here's why you should listen to me: Unlike most of the people on my feed, I am a Chemical, Biological, Radiological, and Nuclear defense officer. My job is to ensure that large, closely-packed groups of people are not infected by diseases both endemic to the environment and manufactured by an enemy. Andes hantavirus has an extremely low transmissibility rate. You need to be in prolonged, close contact with someone to catch it. Transmission between humans is documented but so rare that it is considered exceptional. This is not COVID (for example, the common cold is a type of coronavirus).

• @jackprandelli

• THE WORLD RUNS THROUGH 8 STRAITS. Trade, Oil, LNG, Military power. Key chokepoints: • Malacca ~25% of global traded goods. • Hormuz ~25% of global oil, ~⅓ of LNG. • Singapore ~50% of global seaborne trade. • Gibraltar Atlantic Mediterranean. • Bosphorus Black Sea outlet. • Magellan Atlantic Pacific backup. • Bering Arctic gateway. • Bass Australian passage. These are pressure points.

• @RealDrJaneRuby

• Moderna Admits They Need Hanta mRNA Vax To Overcome Post Covid Revenue “Slump”. (pic)
• ARE THE JULY WORLD CUP GAMES IN 11 U.S. CITIES PLANNED FOR THE SUPER SPREADER OF HANTA HOAX? (list)
• SOMETHING SMELLS: 17 Americans are being transported to the National Quarantine Unit at Offutt Air Force Base, Omaha. Forced quarantine could last weeks, potentially up to 8 weeks. Offutt isn’t a hospital, it’s where US nuclear command sits. Where exactly are these passengers being taken, and who decides when they come out? 

• @HormuzLetter

• BREAKING: Iran's Deputy Foreign Minister has directly warned the UK and France over their warship deployments to the Strait of Hormuz, saying any European naval presence will be met with "immediate decisive response" and calling the deployment of destroyers under the pretext of "protecting shipping" an escalation of the crisis. The UK has just deployed HMS Dragon, a Type-45 destroyer, to the Middle East for a potential multinational mission led jointly by the UK and France. France moved its Charles de Gaulle aircraft carrier into the Red Sea this week, positioning for the same operation. The European mission is conditional on a ceasefire that Iran's formal response to the US proposal today made no concessions toward.

• @Oceanbreeze473

• Kids that go missing everyyear: Spain 20,000. Australia 25,000. France 39,000. Brazil 40,000. Mexico 45,000. Canada 50,000. Germany 100,000. United Kingdom 230,000. United States 800,000.

• @FurkanGozukara

• Dr. Pierre Kory exposes a massive media anomaly. He reveals over 100,000 articles were published globally about Hantavirus in days. He confirms this massive coordination is entirely unnatural. Why is a minor outbreak suddenly consuming the global media cycle? (video)

• @ForgiatoBlow47

• How does a guy get to block the sun, cover your "organic" fruit in film, insert fake meat into the supply chain, and bioengineer mosquitos to release vaccines without anyone's consent or approval and NOT be called a supervillain? (pic)

• @KobeissiLetter

• BREAKING: The semiconductor ETF, $SMH, posted -$2.3 billion in outflows in the week ending May 7th, the largest weekly outflow since the fund launched in 2011. This follows +$1.5 billion in inflows in the preceding week, the 3rd-largest on record. Previously, in April, semiconductor ETFs, $SMH and $SOXX, attracted +$4.7 billion in combined inflows, the largest monthly intake on record. Meanwhile, the 3x leveraged long Semiconductor ETF,
  $SOXL, posted -$842 million in outflows in the week ending May 7th, its 5th consecutive weekly withdrawal. Over this period, investors have withdrawn -$8.9 billion in total. Retail investors are cashing-in massive profits on semiconductor stocks.

• @catturd

• Report: New polling shows that Bill Cassidy wouldn’t make the runoff in the 2026 Louisiana Senate Republican Primary. Julia Letlow: 41.6%. John Fleming: 29.6%. Bill Cassidy: 19.6%. Undecided: 7.5%. Mark Spencer: 1.7%. Another RINO is about to have to learn to code.

• @WallStreetApes

• There are still about 150 people quarantined on the cruise ship with the hantavirus outbreak. That’s means there’s 150 people with nothing to do 24 hours a day but sit around in their rooms. Where’s all the social media videos? Why aren’t they posting updates? There’s nothing.

Night Trading 

• Asian equity indices are -.25% to +.75% on average. 
• Asia Ex-Japan Investment Grade CDS Index 71.75 -.25 basis point. 
• China Sovereign CDS 42.0 +.25 basis point.
• China Iron Ore Spot 111.45 USD/Metric Tonne +.9%. 
• Crude Oil 99.0/bbl. +3.8% 
• Gold 4,694.2 USD/t oz. -.8%. 
• Swiss Franc/Offshore Chinese Renminbi Cross 8.73 -.17%.
• Bloomberg Emerging Markets Currency Index 35.56 -.1%.
• Bloomberg Global Risk-On/Risk Off Index 118.6 +.6%
• US 10-Year Yield 4.39% +3.0 basis points.
• Japan 30-Year Yield 3.75% +1.0 basis point. 
• Volatility Index(VIX) futures 20.7 -.2%.
• Euro Stoxx 50 futures -.07%. 
• S&P 500 futures -.10%.
• NASDAQ 100 futures +.02%.

Morning Preview Links

BOTTOM LINE: Asian indices are mostly higher, boosted by commodity and technology shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed.  The Portfolio is 100% net long heading into the day.