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. Options expiration for May is Friday. The real Shark Week. This is a week of institutional game playing. Generally, this is a week where you will hear a lot of rumors, mostly untrue. You will also hear a lot of ridiculous upgrades and down grades by analysts. Also, stocks and markets that are sharply higher are susceptible to pullbacks. On the flip side, stocks that have been sold off sharply and in down-trends can often get bounces this week. I call it a week of game playing, especially if the overall volume is light. Always give yourself time on the clock, which will give you protection.
2. The Rebellion starts. Elon Musk has gone head to head with the California government, especially Alameda County. He’s reopened his factory, deliberately defying the petty dictators and challenging their authority. You can’t shut down countries and expect a positive outcome. Never mess with a man’s livelihood, as Guido the Pimp warned Tom Cruise in the hit film RIsky Business.
3. No signifcant earnings reports today. GDP could be down 35% this quarter. We need to see if the economy is going to reopen. How fast will normalcy return? That’s the question. In many places it will be faster than others. Airlnes and Hotels continue to build their chart.
For more info, go to www.InTheMoneyStocks.com.
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