You Can’t Beat the Chart with Nick Santiago (Ep. #36)

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. The rebellion is on. People are done listening to the petty dictators and are restarting their businesses and lives. A total shutdown has never occurred in the history of the Country. Markets have gapped up. Market is cheering potential new vaccine. Probably no new highs for this year, but maybe next. Charts are telling us that the market wants to go up. Blue states are being challenged and will eventually back down.

2. Oil is on the move again this morning. Surprisingly it has already reached my upside target. around the $33.00 level. The pattern this week will determine if it can trade higher in the near term.

3. Stocks are flying higher this morning as the economy opens up. This is really not a surprise to us as it should have been done sooner or never closed down. Despite today’s strong open, there will still be more backing and filling. Remember, nothing goes straight up in a straight line.

4. Gold is selling off this morning, but this is actually good if you are bullish in the precious metals. It needs to consolidate more before making another major move higher.

5. Took profits in Hyatt call options. Nick closed his position last Friday and is regretting it now as it’s up bigly today. Airlines got hammered last week thanks to options expiration. Warren Buffett sold off and down they went. Today all the airlines are flying high! If they keep going this way, they will break out for big gains. Airlines have been sterizing their fleet and the passengers will return. Time to travel!

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