Stagnant Q1: Reemergence of Inflation Risk and Economic Uncertainty
Most of the undercurrents that I highlighted at the beginning of 2026 have continued with decent velocity. Risk appetite is still surging, economic uncertainty has risen to new highs given the geo-political mess that has become the re-engagement in the middle east with Iran, and to top it all off commodities are looking to be on the brink of a super cycle which could reignite inflation.
The same question always emerges from investors...what's next?
Commodities have rallied on the breakout of oil prices due to the escalation in the middle east. I explained my thesis of the USA's return to the middle east in a small private group of investors, which played out as if I scripted it myself. Take a look below:
The technical setup for longing Oil futures was the best I had seen in years. As I wrote, prices were ironically at the exact same levels when the Russia vs. Ukraine war started.
Easy call that Oil would rally to $100 per barrel knowing that big commodity traders would mimic the 2022 Russia vs. Ukraine breakout.
Currently, the price per barrel sits right under $100 after it went through a short-term correction. Typical with assets of this size have the kind of blow-off rally that oil experienced in March.
My outlook on commodities and oil prices are more signaled by our ping pong match between China and the BRICS allies. Europe and Asia rely extremely heavily on middle eastern oil and natural gas. With some of the other major bottlenecks like the Chinese monopoly on Rare-Earth minerals, the White House is playing chess while everyone thinks that this is a match of checkers.
My take on the current oil situation with Iran is pretty simple when you ignore the noise. It doesn't matter which headline grabs the most attention when talking about whether or not the Strait of Hormuz is open, closed, allowing 10 ships to pass through per day or none. The hysteria that is our media industrial complex isn't concerned with publishing accurate news or reporting, rather what headlines will produce the most clicks and webpage visits.
This is about power, control, and applying pressure. The United States is oil independent and has been for many years. Now that the major global economies ex-China are in desperation to acquire oil and natural gas from the middle east, they have turned to the US. Japan, Germany, and India are a few of the economies that can't afford to be energy restricted or in a worse case scenario end up in an energy crisis.
Simply by taking control of the Straight of Hormuz, the White House has strategically redirected oil sales to from these other countries to the United States and more importantly, might redirect their short-term alliances.
NEW: Japan received its first U.S. crude oil shipment since the Iran crisis disrupted Middle East supplies.
— Clash Report (@clashreport) April 26, 2026
The tanker OTIS delivered about 910,000 barrels of Texas light crude to a refinery near Tokyo after a ~35-day via the Panama Canal—bypassing the Strait of Hormuz.
Japan… pic.twitter.com/6sr1PV2HnB
So where does this lead us in regards to the equity markets? How do we gage Risk-On vs. Risk-Off?
I'll dive into the macro picture and then move into a few new stocks that we see having great Risk:Reward even though the broader picture might seem uncertain.
In my article from January, I highlighted that the markets were not signaling an upcoming bear market, but rather in need of a healthy pullback before returning to new highs.
Suggestions were that good entries would be appropriate when the S&P 500 retreated between 6700 to 6500, which was fulfilled over the the last two weeks of March. Take a look in at the article posted below:
Michael Harbin
When we look at the both the S&P 500 Charts and the fan favorite tech ETF $QQQ, you will see that my predictions were spot on.
The S&P 500 also mounted one of the most impressive bounce-backs in recent history relative to the pullback experienced.
FASTEST MARKET COMEBACK IN YEARS: AI LEADS THE CHARGE
— *Walter Bloomberg (@DeItaone) April 18, 2026
The S&P 500 has completed one of the fastest round trips in recent history, moving from a near correction of about 9 percent to a new all time high in just 54 trading days. The rebound from the bottom to a new high took only… pic.twitter.com/zyxIToaaAq
The majority of the rally was driven by tech companies, which have experienced one of the toughest starts to the year given the outperformance that investors have been accustomed to in recent years.
$QQQ recently closed up 4% above previous all-time-highs on the Friday close of April 24th, 2026. I truly impressive rally by any standards. Having bounced almost +20% from the end of March.
When I look for new positions, one of the major elements that I look for is disruptive technology or innovation. Since starting this newsletter, our first & second stock recommendations fit that initial profile perfectly. The first being $USAR which is going to be the leader of Rare-Earth mineral production and refinement globally outside of China. It took the market about 8 months from my initial article to formulate a narrative that has attracted not only institutional investors, but also the retail investor environment.
The second was $DFTX (Formerly know as Mind Medicine $MNMD). A company that has been on the revolutionary cusp of psychedelic research to advance metal health treatments, primarily focusing on Major Depressive Disorder and General Anxiety Disorder.
On April 18th, 2026 the White House signed and published an executive order accelerating the development and research of psychedelics to be used as a clinical means to reverse the damage of mental health disorders. Truly a landmark decision that will revolutionize the treatment and cure of many mental health disorders, but also combat the horrific influence that the pharmaceutical industry has had on our society for decades.
Read the official executive order here: https://www.whitehouse.gov/presidential-actions/2026/04/accelerating-medical-treatments-for-serious-mental-illness/
$ENVB - Enveric Biosciences, Inc.
Enveric Biosciences, Inc. is a biotechnology company which engages in the development of neuroplastogenic small-molecule therapeutics for the treatment of depression, anxiety, addiction, and other psychiatric disorders. The company was founded on February 28, 1994 and is headquartered in Cambridge, MA. - Tradingview.com
Enveric Biosciences is the smallest company that I have covered or researched in a very long time. However, even with a sub $10 million market cap, I have a massive amount of conviction regarding this investment.
As much as I don't like to have stock positions in my portfolio that correlate so closely to another, I can't help but take the opportunity to receive massive upside return given the recent developments with the current administration.
One of the major conviction elements is the leadership attached to Enveric Biosciences. The main person that is a signal to me that the company will have long-term success is Dr. Maurizio Fava. Dr. Fava was also the lead scientific advisor for $MNMD (Mind Medicine) before the company rebranded to Definium Therapeutics $DFTX.
Maurizio Fava, M.D.
Scientific Advisor
Dr. Maurizio Fava is Psychiatrist-in-Chief of the Massachusetts General Hospital (MGH), executive director of the Clinical Trials Network and Institute, (MGH), associate dean for clinical and translational research, and the Slater Family Professor of Psychiatry at Harvard Medical School. Dr. Fava is a world leader in the field of depression. He has edited eight books and authored or co-authored more than 900 original articles published in medical journals with international circulation, articles which have been cited more than 95,000 times in the literature and with an H index greater than 150. Dr. Fava founded and was director of MGH’s Depression Clinical and Research Program from 1990 until 2014. Under Dr. Fava’s direction, the Depression Clinical and Research Program became one of the most highly regarded depression programs in the country, a model for academic programs that link, in a bi-directional fashion, clinical and research work. In 2007, he also founded and is now the executive director of the MGH Psychiatry Clinical Trials Network and Institute, the first academic CRO specialized in the coordination of multi-center clinical trials in psychiatry.
- https://www.enveric.com/team/
Position sizing with $ENVB should be 1-2% of overall portfolio value. This is a long-term hold until further notice.
$MOVE - Corvex, Inc.
CORVEX ANNOUNCES CLOSING OF ALL-STOCK MERGER
ARLINGTON, Va., March 19, 2026 /PRNewswire/ – Corvex, Inc. ("Corvex" or the "Company"), an AI cloud computing company specializing in GPU-accelerated infrastructure for AI workloads, today announced the completion of an all-stock merger (the "Merger") with Movano Inc. ("Movano"). The Merger marks the culmination of Corvex's plan to enter the public markets and underscores its emerging leadership addressing the three defining challenges of the AI era—more scale, more efficiency, and more security—via its Amplified AI Cloud™ platform. As global demand for reliable and secure AI computing accelerates, Corvex offers investors differentiated exposure to the infrastructure layer powering the AI innovators of today and tomorrow. In connection with the Merger, the combined company will be renamed Corvex, Inc., effective March 23, 2026, and will continue to trade on Nasdaq under the ticker symbol "MOVE".
About Corvex
Corvex is an engineering-led, AI computing platform specializing in GPU-accelerated infrastructure for AI workloads. Corvex's mission is to become the trusted infrastructure partner for AI model training and inference.
Corvex's platform allows organizations to leverage the advantage of AI by providing secure, scalable, and cost-efficient computational resources. Corvex's infrastructure leverages advanced GPU-accelerated compute clusters, high-throughput storage systems and layered architecture to provide enhanced security, consistent performance and efficiency at scale.
Corvex provides a range of capabilities, including:
- AI Factories and GPU Clusters: Corvex's integrated computing and data-center platform is designed to deliver artificial intelligence workloads at scale by combining high-performance AI accelerators, networking, power, cooling, and systems software to support reliable and cost-efficient production AI training and inference. Deployments may be delivered using managed Kubernetes or as bare metal, and operated on-premise or in multi-tenant or single-tenant configurations that are compliant with the Health Insurance Portability and Accountability Act of 1996 ("HIPAA") and SOC 2 Type II ("SOC 2").
- Confidential Computing: Confidential computing is designed to protect customers' valuable intellectual property and enhance compliance with data security mandates. The company's patent-pending Corvex Secure Model Weights product enables AI model builders and security-conscious enterprises to safely deploy inference workloads on third-party GPU infrastructure without exposing their model weights via the integration of Trusted Execution Environments, post-quantum key exchange, and remote attestation.
- Token Factory: Currently in development, Token Factory is expected to provide access to premium open-source AI models through simplified API integration and a performance-optimized inference engine operating on automatically scaling infrastructure. The platform is designed to improve performance and reduce per-token inference costs relative to certain alternatives by leveraging a proprietary inference engine and custom orchestration logic intended to maximize compute resource utilization when serving multiple models concurrently. The Company intends for Token Factory to achieve SOC 2 Type II certification and to support HIPAA-compliant deployments. - From https://investors.corvex.ai/
Market Cap sits right below $34 million, which is much smaller than most positions that we cover and recommend. However, the technological revolution that is underway will create wealth in ways never seen before. This opens the door for many more companies to grasp plenty of market share at many of the different layers of the General Artificial Intelligence revolution.
From a technical perspective, $MOVE isn't worth diving into too much at the moment. I'm solely focused on the real fundamentals of the business and it's potential to become a large player in the the GPU security space.
If you want to add $MOVE to your portfolio, I would recommend keeping the position under 5% of your overall portfolio at most. DCA over time given that the market cap level could potentially experience extreme volatility in the short-to-mid term. This is a long-term hold until further notice.
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Last Updated: 08/02/25
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