Apr. 29 at 2:51 PM
Headline risk is being sold as a binary trade, but the tape disagrees. Tankers, defense, and crude already priced a tail event weeks ago.
The real question isn't escalation, it's who's left to chase
$XOM and
$LMT after the gap. Exit liquidity forms at the headline, not before it. 🪤
Watch unloved logistics like
$UPS for the actual second-order trade.