from Daily Market Wisdom with Nick Santiago
For more than 20 years, Master Trader Nick Santiago has been beating the markets. He’s made some incredible calls along the way and now he’s looking to spread the word. There’s no reason that the average trader should be coming up short. So now we’ve started a daily show to bring you up to date on the latest market developments. Nick will be sharing trades and concepts and discussing current trends. Today we discuss:
1. Earnings season has begun with earnings from JPM, JNJ, and WFC. Earnings season will continue for the next 4 to 5 weeks. I dont think the numbers will matter much dur to the recent shutdown. Tomorrow we get more financial stocks reporting such as Goldman Sachs, Bank of America, Charles Schwab, Citibank, PNC, U.S. bancorp & United health. Earnings season is very cloudy and very bad. JPM is backing off and Nick believes it’s a potential buy in the next week and believes it could it hit $110. He’s looking for an additional pullback. JPM is the leader of the group. Goldman’s earnings are out tomorrow and is looking good on the chart. Could pop to $205.
2. Oil is trading lower again this morning. It will be important to watch the pattern this week for a possible setup. It’s been week since the OPEC cut came and crude is down. It has not given a buy signal yet. When it does Nick will be on the long side. Interesting pattern with small risk and large potential gain. Look for $30 and then $36.
3. Gold is in an uptrend, but it is extended at this stage. I think it needs to pull back at his point of the game. For today silver is up 4%. It’s chart is looking very strong and has increased gradually. The real test is $17.50 to $18.00. Then it’s on to $20 and then the mid $20’s.
Member Inquiry
1. Hershey (HSY): I’m going to put 6% of my portfolio in HSY, if the price drops to $120. Nick believes that $130 could be a good entry point.
2. Stanley Black & Decker (SWK): I’m going to put 4% of my portfolio in SWK, if the price drops to $100. Nick likes it at that level and would place a stop at $80.
For more info, go to www.InTheMoneyStocks.com.
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