repost from your last update. But can you give your thoughts on port strike and some plays to make off of it. I bought TZA yesterday. Up 5.5% now.

The dock worker strike is on. Analysts are expecting it to last for a week. This will cause major hiccups in manufacturing and any other industry that relies on JIT (just in time delivery).
Here are my thoughts on the impact. ( assuming a 1-week strike)

1. Everything arriving in the port this week we about a week late
2. Boat queuing in the gulf/ocean will be about 2 weeks late on deliveries
3. Boat shipments delayed in Europe or re-routed to west coast ports or through the Panama canal will be 3-4 weeks late
4. The next return shipments from boats that are already delayed or stuck waiting in the ocean could be 4-6 weeks late.

Biden has the authority to end the strike, but it’s so close to the election, he will be very hesitant to do so. (people will look at that as breaking the union) Look for the strike to be spoken about in earnings calls. It will be a get out of jail free card for poor performance. (kind of like Covid).
Not sure how to play this. I’m thinking to be as nimble as possible. The market might whistle past the graveyard until reality sets in. Then a sharp decline and a short relief rally once a deal is made.

thanks randy

Coin toss as to which way NKE goes after earnings IMO as I don’t have a strong read on the near-term direction. Here’s my daily chart with some nearby key support & resistance levels as well as my weekly chart (actually 6-day period candles vs. 5-day) showing NKE just above its secular bull market uptrend line.

Thanks a lot Randy. Very helpful.

NFE decent looking bottoming play: Positive divergences on the recent low + trendline breakout & backtest with the stock taking big volume on this impulsive move. I’ve marked up all potential targets on this daily chart below. Thx for pointing it out!