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 begins next week, Officially it starts on Tuesday April 14th with JP Morgan, Johnson & Johnson, and several other reporting. Earnings are expected to be terrible. After all, the global economy has been shut down. The market already expects bad numbers.
2. Dr. Michael Burry, who is hedge fund manager famous from the big short days (2008) is talking about how crazy a lock down has been for the economy. This was on zerohedge yesterday… Prudent plan:
– a) Standardize on chloroquine and azithromycin – cheap and available
– b) Sick and elderly voluntarily shelter in place.
– c) Americans lead their normal lives with extra hand washing and special care if around elderly. Saving the economy means life, not murder. I agree.
3. This is a traders market now. Knowing and following the charts will be more important than ever going forward.
4. Hotels are showing a great set-up as is Delta Air, probably after bad earnings report coming shortly. Restaurants are looking good. Opportunities have been taken. Take-out has taken up some of the slack for the restaurant sector, but there’s more to come. Is Starbucks a buy? Darden, EAT?
The financial system will bounce back. No new highs for this year, but next will be another story. Get ready to trade! For more info, go to www.InTheMoneyStocks.com.
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