If this wasn't idiotic it would be funny

President Miyagi at it again - Tariff on - Tariff Off

Winning - We are Winning so much. Too much winning!

Earnings season rolls on

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 Warm-Up
- If this wasn't idiotic it would be funny
- President Miyagi at it again - Tariff on - Tariff Off
- Winning - We are Winning so much. Too much winning!
- Earnings season rolls on
- Need a new CTP stock

Markets
- Key Reversal Indicator - 1st Green cluster bottom on Monday and Tuesday - Called the near-term bottom
- Stock markets slammed
- President Trump discussing stocks
- Economic Pissing Match - Even more tariffs, or bluffs
- VIX HITS 60 back UNDER 30

ANNOUNCING - One Time Competition - Put Lyrics to Music - The Tariff Blues (DHUnplugged Shirt and Song Play)

Nice end to the week!
- Markets gave some hope to the idea that more exceptions were coming
- Across the board, markets gained for the week in highly volatile trade
- Last week and the week before saw extreme movements
- Bond yields (10 yr) swung between 3.7% and 4.5% (add that to historic records)
- At one point equity futures were swinging 1% every 10 minutes in average during height of volatility
 Wild Ride
VIX
- Moving lower as things settle down a bit
- This is something that everyone should understand - VIX does not stay elevated forever...
- VIX moves lower as shocks expire
- Great tool for risk management and trading during wild market moves
--- Get in and out...

Not Inflationary..(wink)
- China increased tariffs to 125%
- US Increased China tariffs to 145%
--- Speaking with colleagues and business owners - they are raising prices as cannot absorb thee levels

Tariffs
- Are we sick of this discussion yet?
- hares of automakers jumped during midday trading Monday following President Donald Trump saying he's looking to "help some of the car companies."
--- Auto companies are expecting to see a drop in vehicle sales in the millions, higher new and used vehicle prices, and increased costs of more than $100 billion for the industry, according to research reports from Wall Street and automotive analysts.
- BCG expects tariffs to add $110 billion to $160 billion on an annual run rate basis in costs to the industry, which could impact 20% of U.S. new-vehicle market revenues, increasing production costs for both U.S. and non-U.S. manufacturers.
- Weekend - Some exemptions are being made for semi's, smartphones and other electronics (Shares jumped Monday)

Workaround
- Apple airlifted $2 bln worth of iPhones from India ahead of tariffs

Boeing
- Chinese airlines have been ordered not to take any further deliveries of Boeing aircraft in response to the U.S. imposing 145% tariffs on Chinese goods, Bloomberg News reports.

Zero Day
- Newsline: Wild intraday gyrations in stocks since "liberation day" have put investors more on edge than ever, and the popularity of zero-day-to-expiration options is partly to blame.
- Zero-day-to-expiration options are contracts that expire the same day that they're traded.
- The trading volume of 0DTE options tied to the S&amp;P 500 surged to 8.5 million in April, a 23% jump since the beginning of the year and accounting for roughly 7% of the total volume in U.S. option markets, according to data from JPMorgan.

NVDA - News Drop
- Nvidia said on Tuesday that it will take a quarterly charge of about $5.5 billion tied to exporting H20 graphics processing units to China and other destinations.
- The H20 is an AI chip for China that was designed to comply with U.S. export restrictions. It generated an estimated $12 billion to $15 billion in revenue in 2024.

DHUnplugged #748: Who’s to Blame?