Shares of Walmart (WMT) popped in early trading, only to fall back quickly to the flat line. The move higher in early trading was a classic (expected) retrace of the topping tail from just two days ago.. With the stock at/near all-time highs and trading at nutty valuations, a pull back is inevitable. The chart just told us the time has come. The topping tail on Tuesday was epic and marked the top. The retrace today gave investors a chance to short it or buy puts near the top. Members in Verified Option Alerts did just that under my guidance. I am a strong bear on shares of Walmart in the near-term based on the technical chart and fundamental valuation. Walmart will likely start a corrective move that should take it to $106.00, a key gap fill on the chart. This will net shorts over 10% in the near-term and options put players many times that.
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