Today's trade is in a name that had a monster gap recently, has consolidated over the past week, and might be offering a gift of an entry today thanks to a 3% pullback.
This might be our last best chance to punch a ticket on this...
I've gotten a lot of feedback from yesterday's note. Turns out, there's a lot of Steve Poltz fans amongst you. I had no idea! If you missed yesterday's note, you can read it ...
In trading, we prize rational, mechanical thinking. We try to minimize emotion wherever possible — following systems and rules with robotic discipline to reduce errors and maximize returns.
Today's trade is in a consumer staple that has made fresh 52-week highs recently, is on the cusp of a breakout from a multi-year base, and has dirt cheap implied volatility in the options.
