$RECALL Today I directly pushed up 6.9 points. Watching the account recover feels pretty great, but we need to stay calm and do a post-trade review of this logic.

That previous memorandum of understanding—put simply, it’s just a piece of worthless paper. The promise of $300 billion for a large-scale slaughter of terrorists came only because they started talking big and said, “We won’t get nuclear weapons anymore.” Can you trust something like that? The real life-or-death issues—the proxy wars and ballistic missile problems—were never mentioned at all. These threats are far larger than the nuclear arsenal they’re currently waving around, still just hypothetical.

And then there are the promises to the people of Iran: back then they said “assistance is on the way,” but now it has turned into an empty check, with not even a bit less oppression. This kind of document is destined to fail. The market voted with its feet today by pushing up $RECALL , showing that smart money is betting the deal simply can’t be carried through.

Remember: as long as geopolitical risk hasn’t been resolved, $RECALL as a hard asset actually has a story to tell. But don’t get carried away—wait for a pullback and confirmation before considering adding to the position.