You probably want to fade this a little bit. The Marine Expeditionary Force is coming. Five more days gives time for them to get closer and provide additional leverage. We want to do more attacks on the Iranian coast to destroy their ability to attack the Strait of Hormuz.

I think we will see in the next 24 hours if we continue to hit their military targets. He has not backed off the overall military strategy. I suspect we continue with that military strategy, which Iran has to counter.

I think that's really difficult. Iran still has demonstrated their ability to keep ships from going into the straits. We need to either prove that we can allow ships to transit or do something more aggressive.

I want to be long actually Treasuries now. I think we kind of hit this point, and maybe want to see if we fade a little bit from here.

I'm also trying to figure out what's the way to invest in European defense. I'm trying to figure out who in Europe's gonna make drones.

Global energy production is still going to be a key. Europe in particular is going to wake up and say it is insane that we ignore the North Sea, that we ignore so many of our own energy resources.

All these things that we were looking at as the data center AI trade, I think are going to be electricity independence trade. Those are where I want to add my money.

We are moving to a system where every country is a little bit more independent. You go from one steady state to another steady state, there's often volatility and violence in between.