THere it is..up and away today!! Go Calls!!

I think this is wise analysis. While the impact of this strike is mounting every hour, the more dire the situation gets, the stronger the relief rally will be. The strike and Iran/Israel conflict have scared me out of the market for now.

As randy said, the charts are the best guide. However, stops have to be in place for a giant red candle if the middle east situation gets hot.

I missed out on some huge gains yesterday by waiting for news instead of reading the charts.

The good thing about trading is that the next opportunity is just around the corner. I have to focus on being a spider and just waiting for my opportunity and then attacking.

Thanks…I would like to know about WMT…COST/KO/PG seems to be reversing down…WMT just not breaking and I am positioned in WMT + XLP shorts

@HermonMunster asked me my thoughts on how to capitalize (i.e.- what to trade) on the strike a few days ago. My reply was that I’d have to think about it & the more I do, the more complex analyzing how it might play out gets. Too many variables including, but not limited to how long it will actually play out:

Bet on the outcome of an extended strike & you can get your clock cleaned even if positioned correctly yet they suddenly announce an agreement, especially after-hours, in day 2 or 3. Also, many other variables that are simply outside my area of expertise: (e.g.- How long was this seen coming by those in-the-know & how much preparation such as stockpiling, order changes, alternative logistics/suppliers, etc.. has already been made.

Best to stick to & trade the charts of whatever I’m trading as all-known information is usually priced into the technicals (unlike the fundamentals).

If you think of any other sectors or stocks that might be affected & want my 2 cents on the chart, feel free to post it. Here’s my chart of XLP with a sell signal to come on a break below the Ascending Broaden Wedge Pattern.