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. The major stock indexes held up yesterday by the closing bell. This was a small positive after the negative Warren Buffett news that was released over the weekend. As you know, he sold his entire airline holdings and was very uncertain about the future. When markets go up despite bad news that is usually the ultimate bullish signal. It’s been up a few days, down a few days, a cha-cha. We’re seeing consolidation, without distribution. A bullish signal.
2. Crude oil is on the move again as the economy opens up up $3 per barrel today at $23 and change. If the airline can start flying again it would send crude over $30.00 a barrel. Airlines use a ton of jet fuel. Energy stocks such as XOM, CVX, XLE and others are actually looking good onthe charts right now. Full disclosure: I own Call options in BP.
3. I’m now watching the Disney, Sea world, six flags, and Cedar Fair charts. They are actually all holding up well right now. They still need to shape up a little more, but they could be talking to us about the economy and what’s ahead. Hotel stocks are on Nick’s radar after the earnings announcement. Hoping they will sell off and then Nick will pounce.
4. Gold down a bit consolidating. Will get into gold miners when there’s a bit of a pullback. Silver appears to be the big play right now. SLV is the place.
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