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The market’s strength continues to unveil new opportunities. One relatively low-risk one is EFA. This is the same missed opportunity from April 2nd which I decried repeatedly. Well, the same gap trade has returned, albeit at a lower level.
I wanted to show some examples of the kind of gaps-based trades that are all around us as prospective bearish positions.
Wow, here’s one that really got away. I was waiting for the gap to close (arrow), but I got cute and decided to keep waiting. Opportunity is gone, now! The auto tariffs have blown up the stock. Congratulations to anyone who benefited from this slump. I missed it!
Intuitive Machines is a relatively young company and a very popular stock whose bounce is, I think, just about over. That gap should represent an exhaustion point for its own bounce.
International Business Machines was at the highest value of its 113 year history only a few days ago, but another support level has failed, setting it up for an easy move down to that price gap below.
