Daily Newsletter 2/4/26
We remain firmly bullish on precious metals over the long term. While periodic volatility is anticipated—as we foresaw—the recent pullback presented an opportunity to selectively increase exposure, particularly to gold and silver.
Whether this marks the ultimate low remains uncertain, but our conviction in the prevailing uptrend is unwavering, justifying our continued positioning. That said, our use of medium-term options demands prudent risk management. We anticipate near-term upside over the coming days, though short-term outcomes remain inherently unpredictable.
On the defensive front, we continue to monitor developments in Greenland and Iran, the latter of which remains an active concern despite Greenland receding from headlines. These factors also inform our evaluation of potential oil exposure.
Among our other holdings, technology positions warrant caution. Our energy strategy is progressing, albeit more gradually than anticipated. We plan to sustain our Argentina allocation for the near term and intend to engage Japan’s elections this week—despite elevated crowding—potentially establishing a new position. We have also reduced our financials exposure, which may prove slightly early, but we see significant uncertainty around Kevin Warsh’s appointment and prefer to first observe the bond market’s reaction before fully repositioning.
We have consistently highlighted asset reallocation and liquidity dynamics as key market drivers. We continue to view these factors as the prevailing influences for the foreseeable future.
OUR TRADES
We share all our short-term trades in the Tactical Portfolio exclusively with paid subscribers, showing the exact entry time and price for every trade below. Subscribers receive timely buy and sell alerts via chat. Our approach is eclectic, blending macroeconomic insights with a quantitative methodology. We do not limit ourselves to specific markets or sectors, seeking to profit from any short or very short trade that fits our strategy. We use sophisticated option strategies to capitalize on short-term market movements, ensuring full transparency and prompt exit updates.
Our option positions are presented using a single‑contract example. In practice, our portfolio includes positions with varying contract sizes. This approach allows you to scale position size up or down to reflect the strength of your market view.
ARGENTINA
YPF
20 FEB 26 37 Long Call Premium: $1.11 Delta: 0.42 1/21/26 15:15
Below is the message we shared with our paid subscribers on Monday at 3:10 p.m.: we closed our Argentina position with a profit of 57.58%. We typically gain exposure to Argentina via ARGT, BBAR, and/or YPF. We intend to re-enter the market, but for now, we prefer to remain on the sidelines after realizing these gains.
DEFENCE
SHLD
20 FEB 26 79 Long Call Premium: $2.03 Delta: 0.45 1/20/26 10:50
20 MAR 26 80 Long Call Premium: $2.46 Delta: 0.43 1/20/26 10:52