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. ADP job report was released at 8:30 am ET today. The number was -20.36 million. This was expected to be a bad number. The service industry was down the most with a loss of 16 mm jobs. Just think about if the service sectors gets going again, a lot of jobs will be backk very quickly.
Service-providing: -16,007,00
Large businesses: – 8,963,000
Small businesses: – 6,005,000
Medium businesses: – 5,269,00
Goods-producing: – 4,229,000
2. Disney reported earning that were pretty ugly, but the stock is acting well. When a stock trades higher on bad news it’s telling you something. It’s already been factored in by the market. This is a bullish sign so far. Opened a position in Southwest Airlines on massive short selling. Buffett’s exited created a massive short position. Expect a huge short squeeze with prices going way higher. Seats will start getting filled faster than anyone expects. General Motors also reported earnings and that stock is actually higher today too. We know auto stocks have been hammered lately. This is also a bullish sign right now.
3. This year is going to be volatile. Some sectors are going to be hit harder than others. But the market is acting the way it should be. The algos are trying adapt to the market, but everything is subject to error at some times. Many algos are programmed to react news items and social media more than actual market numbers.
For more info, go to www.InTheMoneyStocks.com.
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