What Actually Went Up Today... Says Everything...

The deep red and fearful headlines are what CNBC tells us. What they missed - the things that surged today... which actually highlight the underlying problem in America.

Dear Fellow Traveler,

Well… that was something. For the last few months, markets knew that tariffs would arrive. And now, they are here. The entire last week has been a mirage. We’ve still advised investors to remain on the sidelines or hyper-cautious since our primary signal turned red on February 21.

But today’s sales were one for the record books. RH (RH) dropped 40% after a bad earnings report and news that tariffs would hammer them. Five Below (FIVE), Wayfair (W), SharkNinja (SN), and Gap (GAP) were all down more than 20%.

Those are the stocks that get the headlines.

That’s what you’ll see on CNBC and Barron’s this week. What you won’t see is what went up today…

What went up—by wide margins—tells the story of the underlying problem in the United States. It’s not the tariffs—it’s the root cause of the problems.

It’s the financialization that gutted America’s manufacturing in the first place.

The ETFs Surge. Wait… What the Hell Are They?

Passive investment funds like Exchange-Traded …