Crude Oil Tribulatons with Nick Santiago (Ep. #22)

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. June Oil (CL-M20) Falling again. This is coming because the USO has told everyone it is rolling out of the June contract and getting into the July contract and further out contracts. They should have traded in stealth mode and not tell the world.

2. Earnings season is in full gear this week. tonight we have AMD, Google, and Starbucks. All numbers are expected to be weak, but any surprises could give the stocks a lift. The market already knows this. Tech has been leading the rally, they might be getting toppy. Starbucks is hitting resistance at $78. Its March low was $50. Max upside target is $81. Airline stocks could be starting to stabilize. Once the country reopens they’re poised to take off. United, JetBlue are moving. Hotels are holding up extremely well. Hilton Hyatt Choice and Marriott all are looking good. After this week’s earnings come out their chart pattern should be complete and they will be a buy.

3. Tomorrow morning the GDP number will be released. This is going to be a horrible number and likely negative. Fortunately, the market is already expecting a bad number, so I dont expectthe reaction to be terrible despite the bad news.

4. People have had enough. They’re even protesting in the liberal bastion of California. People have taken to the beaches to demonstrate the authoritian measures. The risks of a global shutdown.

5. Stimulus 2 is on the way. There’s a price to pay for this government spending orgy. There’s no free lunch with free money. Inflation is the natural result of infinite money printing.

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