I welcome my colleague Brett Arons. He writes, Return on Investment for Market Watch. He's traveling,

observing the worldwide turmoil because of the Liberation Day announcement of tariffs,

first 10% on all imports into the U.S. and then reciprocal tariffs for a list of the countries

that do very big business with the U.S. led by China, of course.

We come now to the events of these last hours when the President of the United States,

with the authority I understand is his to wield, announced a 90-day pause in all tariffs

except for the People's Republic of China, where the tariffs have been

increased to more than 100%, maybe as much as 125%.

Brent, a very good evening to you. This is Break the Glass, Brett Arons. I only call out

when the market's crashing. Right now, we've decided it's crashing for the short sellers.

Something odd happened they

remarked by the Tokyo trader the other day comes back to me he said how do you prepare for

this you've either got to build a trade for opening your veins or one for the mother of all

bounces are we observing the mother of all bounces good Are we observing the mother of all bounces? Good evening to you,

Brad. Good evening. Good evening. I think in terms of numbers, I don't think I've, I don't think

I've ever seen 3,000 points on the Dow, 2,900 points on the Dow in a day. What an

extraordinary turnaround. It's great to be here. For once,

your listeners are hearing my voice and not losing money. They're making money.

Unless your listeners are short-fellers who've been pushed trying to drive the market down,

in which case they are at this point being carried out of the market feet first. Yeah, this is a huge rally, and it's, it tells you, gives you good idea of how bare sentiment was and how positioned a lot of, bearishly positioned, a lot of investors must have been people who were short who had to rush to cover,

that the market has risen so much on the news that Donald Trump has basically backed down on a lot of his tariffs.

There's a number of fascinating puzzles here.

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