Updated: Auto Parts

The sector is popping on positive analyst comments and higher price targets. They haven't ever avoided the fallout of recession.

Update: GPC went all the way to the top of the wedge. I bought puts near the close. the resistance line is my mental stop. I will allow an overthrow if I think the market will reverse, otherwise it'll get pitched out of the portfolio quickly if it goes through beacuse there is a secondary resistance line around $185. If it somehow got there, I'm probably very wrong about where the market is going near term, but I'd also plow into puts.