$IBM(IBM.US)IBM’s recent round trip says a lot about today‘s market. After falling all the way back to its breakout area, a fresh round of supportive comments from Trump was enough to send the stock almost back to its previous highs.

What stands out isn’t just IBM‘s strength, but what it says about capital allocation. Investors are no longer paying much for uncertainty or long-term potential. They want clear policy support, visible earnings, and narratives they can easily believe in. Once a stock loses that certainty, it often drifts lower regardless of valuation.

It’s a market where conviction has become highly concentrated. Whether that‘s sustainable is another question, but for now, certainty is being rewarded far more than possibility.

@Captain's Treasure