This Is Most Important Note We'll Send Out All Year!!!!

We Are Probably Saving Lives With This Morning's Note!!!

• If you value your life, make sure to order flowers, candy, or whatever you’re planning to get for Mother’s Day IN ADVANCE. Do not wait until the last second to do this!!!......DO IT TODAY!!!......This could be a matter of life or death! (Phew, we’re glad we got this not out in time! It’s the most important comment we’ll make all year!)

• Seriously though, we believe that the recent bounce in the stock market has taken it back to a level that is pricing-in much lower levels for tariffs than we’re likely to get in the end. We already have a situation where the economy is slowing, and earnings estimates continue to decline. When you combine all this with very stretched valuations, it’s not the kind of recipe that allows for a lot more upside follow-through in the stock market…even when we eventually get “more clarity” on the tariff issue.