Pay attention to the Japan Yen Carry Trade, says Nigam Arora, noting the "risk is real" for an unwind. With $1 trillion invested in the trade, he explains how an unwinding of that money can create a 10% to 20% correction in the A.I. trade. As for the Fed, Nigam offers his case for an interest rate cut even though he believes it doesn't need to. He also sees silver hitting $70 as a prime short squeeze target.