Helping you understand why names like $MU, $SIVE, and $AAOI are down sharply today: Paradis Macro Report [June 9]: -> Iran war, yields/rates, and upcoming macro catalysts. Iran shot down U.S. Apache helicopter today while patrolling over the Strait of Hormuz. A confirmed US strike on Iran would: Spike oil = Hit risk appetite = Worsen equity weakness. Today, we already saw some violent factor rotation: Momentum/growth -> Value/defensive Highlighted by: - $QQQ: -4.2% intraday - $SPY: -2.7% intraday - $DJI: flat So, a very fearful / risk-off market right now, as seen by high growth names like $IREN, $AXTI and $LITE being down >10% today. Yields have also jumped after the June 5 payrolls beat (US 10Y: 4.54%). Meaning that Fed futures are now pricing in a rate hike by end of yr. Basically: Higher real yields = valuation compression for long-duration growth/AI names. (Long-duration because the value in AI equities sit in cash-flows years out) Ultimately, all this favours value/financials over AI growth names, which are all unwinding simultaneously right now. But directionally, AI supercycle names will all continue higher in the long-run, driven by huge hyperscaler capex. In terms of upcoming macro catalysts: 1. US May CPI [Jun 10]: A hot print (>4.2% headline) hardens the "Fed can't cut / may hike" narrative. = yields up, $ up, more pressure on AI/growth multiples. A soft core surprise would be the relief valve for chips. = relief rally in AI names. 2. $ORCL Earnings [Jun 10]: Strong RPO/capex execution = bullish for the entire AI supply chain (HBM, optical, packaging, networking). 3. FOMC [Jun 16-17]: The statement language (does it drop the easing bias / call labour "solid" vs "moderating") and the dots will reset the Y/E hike vs cut debate. A hawkish hold / hike-signaling dots = pressure on AI supercycle names. Any dovish surprise = relief for AI supercycle names. --- For inexperienced investors, I have advised countless times to avoid risky instruments such as options/leverage. Right now, with the current macro backdrop, stick to normal shares. Personally, I have slowed down most dip-buying to let this macro uncertainty wash through.