The trope, which didn’t even exist half a year ago, has already become tired: Trump says something big and brassy, the financial markets plunge, and he does a complete 180 and reverses the damage (almost certainly profiting from a huge trade in both directions).

It happened again over the past few days, of course, with your President shrieking about 100% tariffs against China (causing a massive equity and crypto collapse), then almost immediately thereafter pouring over the treacle of “the Great Chairman Xi” crap, thus creating a huge rally on Monday. Except for two stupid precious metals shorts, I covered absolutely NOTHING, because I figured the broken trend was my ally. For the moment, it seems this steadfastness has worked out.