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Trade Wars!

Looks like the next market driver injecting volatility is going to be the apparent "trade wars" or fear thereof. This morning the futures are negative and this appears to be directly linked to China imposing tariffs on a list of 128 U.S. imports (to China) including agricultural products ranging from fruit to frozen pork.

We have an alert out on AT&T that did rebound some last week only to retreat. We continue to hold AT&T (T) on the basis that is is a) oversold; b) rated outperform with a price target of $48 at Well Fargo; and c) it usually runs up into earnings which will be on April 25th.

Our alert expires on April 20th, we have 18 days to see improvement before the option expiration. If the trade war fear subsides we could get a good result. In the meantime, we will continue to look for the next opportunity. As we write this T is trading at $35.68 up 0.03 cents (0.08%) from Thursdays close. So we are hanging on and hoping for the best.

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