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. Weekly jobless claims +5.245 million. This was another brutal number, but it was expected. A fair case can be made that it was exactly whatthe market expected. Hopefully, this economy will be opened up soon. S&P is heading sideways, volume has gotten lighter and it’s setting up for the next advance. There’s plenty of free
2. Earnings season is underway with mostly financial stocks reporting earnings. So far, all earnings have been weak with very little visability. This again another great reason to use charts when trading. I dont really care about the reported numbers, I only care about the market reaction after the announcement. Nick bought the XLF, Select SPDR fund. Graduaul pullback and another appears to be on it’s way. Nick bought BOA calls. 25 strike NOV 2020. Already in the money.
3. The media is so negative. They keep saying that there will not be any money to start opening businesses again. Do they realize that the government has been handing out money? When its time to open up again everyone will do there best to get up and start doing business again. This is what America is about!
4. 2020 is a panic year. Lots of cycles in play.
5. NASDQ is up today. DOW is the suckers’ index.
6. Options and swing trading are way up for 2020.
For more info, go to www.InTheMoneyStocks.com.
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