.

Laurie’s Abbreviation Index:

** ‘div’ – dividend

** ‘m/m’ – month over month

** ‘y/y’ – year over year

** ‘Inven’ – inventories

** ‘mfg’ – manufacturing ** +/- – plus or minus, positive or negative

** Underlined text – higher volume premarket

** ‘d’ – day

** ‘Y’ – year

**govt – government

Color Key: Positive – Neutral – Negative

Global Markets:  USA, Europe, Japan, China, Hong Kong – negative  set-up

      •        Commodities:  Gold, Silver, Copper,  Palladium, Oil, natgas, AGGS,  Bitcoin

      •        Yields: 30Y Bond -0.51%  Currencies:  USA$ +0.31% CAD +0.32% YEN -0.39%  BTC/USD-0.52%  Vix:27.65

      •        Events:USA: USA/Israel attack continues; Release of SPR has reduced oil spike but SPR is 4d supply of oil
Stock News:ZIM+0.5%      Earnings  HIMS+47% deal again with NVO deja vu, big short squeeze; LYV won

      •        Equity:  Global indices are significantly up from the overnight lows after selling down Sunday night. USA indices are led by large caps with XLE the only S&P sector higher since the Fri close. Oil spiked to 120 Sunday night and Vix futures spiked to 30 and oil has pulled back on profit taking and USA govt releasing oil from SPR. Middle east producers are either slowing production or will be over the next 2 weeks as the disruption of St. Hormuz is resulting in storage tanks filling up.  China stocks are higher on reports that there is plenty of oil stored both on shore and off shore. Precious metals are lower wither because the US$ is higher or its a source of cash. Bonds lower either due to inflation fear or a move to cash. Higher oil prices is negative for importing countries like India, Korea, Japan, Europe and China. Need for US$ can lead to these countries selling US equity and fixed income. Higher oil prices is negative for global growth and inflation and meme of stagflation is growing depending on how much longer USA/Israel continues the war with many saying that if it extends longer than 2-4w , significant global economic weakness can become intrenched. Technically USA indices are on sells and CTAs have started to sell with selling to continue as price falls. Puts are trading very expensive to calls indicating hedging and market makers are positioned to sell into dips and buy rips. Potential downside targets are SPX 6600-6500 and JPM collar put position is 6475 expiring Mar31 and typically  holds. Given the vol, one should be prepared for sharp moves in either direction. Headlines/rumors may cause sharp moves. IMO market is still priced for a quick resolution of the Iran war with Trump tacoing due to oil price and S&P price. The market may be under pricing Iran not allowing Trump to taco and some analysts are suggesting may see equity bounce on a taco and then reverse if Iran is not buying the taco.  Sectors to watch today are oil, fertilizer and drones with the Trump boys backing AGH which will mfg Ukrainian drones with USA govt funding. Financials are indicating weakness with consumer related names most affected.

      •       
Stock MRVL OXY CF  NVDA AMZN AMD    Speculative IOT  GFI
Indices /CL UNG ETHE XLE KWEB UUP UUP  GDX XME EFA IWM KRE XLB ARKK ARKF UFO XLF NUKZ XLY

S&P500 LYV MOS MPC WAT APA FANG OKE CF EOG  CPAY MPWR NRG NCLH FOXA SYF PWR TYL AKAM FCX
Other HIMS XENE DNTH RCAT AAOI VG LNG SM PBR LI SATS  TECK HL NGLD SOFI SBSW AG VALE

RCAT

RCAT is a very speculative name which manufacturers drones and has announced an anti-Iran drone product.  Momentum idea with upside resistance to 17 and then potential to 20 based on call positioning. Several drone names are in play with a more speculative name AGH with Trump sons involved. DRNZ is an ETF that holds a basket of names. Caveat very speculative and very susceptible to war news.