It takes Two to TACO
And what's the trade?
This AM we had the following Trump Post to which markets are reacting:
“The United States and Iran have had productive discussions over the past two days toward fully resolving hostilities in the Middle East. As talks continue this week, I’ve ordered a five-day pause on any military strikes against Iranian energy infrastructure, contingent on progress. Thank you. —President Donald J. Trump”
Markets are reacting to this news this morning, but nothing definitive has changed. Also bear in mind that Iranian media is claiming they have had no direct or indirect contact with Trump and that he withdrew his ultimatum unilaterally. So, we don’t know exactly where we stand yet.
Yes, we were very oversold in the short term, so this rally could have room to run. Conversely, with the pre market move the new news is likely already priced in.
Simple gameplan:
