Bankruptcy is a Buy Signal with Nick Santiago (Ep. #23)

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. Oil surging today. Positive drug news from Gilead is helping the markets today. The stock has been going back and forth. Potential game changer. Crude is a direct beneficiary if the economy picks up.

2. Earnings are pouring in. last night Google (Alphabet) reported earnings that were better than expected and the stock is sharply higher today so far. This is how the earnings season is going to be. Its all about the market reaction, not the earnings numbers. Tonight, Facebook, Microsoft and Qualcomm report after the close today.

3. Today, Q1 GDP -4.8%, this was somewhat expected. Right now markets are not expecting any positive news from the past. It was already baked into the cake. The charts don’t lie. Dow is already up 450.

4. REITS IYR is going higher according to Nick. It’s trading around 76 and it could hit 85. It’s very diverse so it’s worth keeping track of and finding your particular sector.

5. Tech is looking very toppy. It’s run up way too fast. The companies that have run up during Coronavirus scare should be avoided. Netflix ran up on binge watch rumors. Now it’s peaked. They’ll pull back for future investment. Energy stocks are looking pretty good. Exxon, Conoco. Nick owns BP Calls. Out of the money. Out till October. Pattern is right for major gains.

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