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. Today, the major stock indexes are staring lower. Traders and investors should expect choppy markets going forward. Just a reminder, markets do not go up in a straight line. They will do some backing and filling, this is natural. Typical ebbing and flowing. NASDAQ is up even while Dow is down. Right now, tech is the strong industry group. Financials are still struggling. This coming Friday is options expiration. Game playing by the big boys is expected. As long as volume is light the institutionals can have their way. Let the games begin. When in doubt stay away. And there’s lots of earnings still to come.
2. According to a Reuters Saudi Arabia is going to lower June oil output by an extra 1 mln barrels per day. Crude is up another .37 cents to $25.11. Crude could trade higher if the economy starts to open up more.
3. Marriot (MAR) reported earning today. The stock is trading lower by $5.00 $82.00 a share. This is the stock to watch over the next week or so. It could be setting up to move higher soon, but I like to let the dust settle after the earning announcement. Crowds at hotels and restaurants are coming. Hotels could be a leading indicator. If we don’t get back to work soon there will be a depression.
4. Mush says No Mas. He’s moving the headquarters out of the state ASAP and may even cease production in California. There are active rebellions taking place around the nation as more people demand a return to normalcy. Add to this the fiscal damage being done to state’s that won’t reopen and we’ll see all happen soon.
5. The BP pattern is looking very solid. USO remains to be seen. Oil still has higher prices.Hard to know what the results will be for USO after the restructuring.
For more info, go to www.InTheMoneyStocks.com.
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