Nick Santiago Was Right (Yet Again) and CNBC, etc., Were Wrong (Ep. #41)

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. Dow broke 25k S&P 3000 and need to hold for the close and the week. 3000 on the S&P is a very important psychological marker. Psychology is everything. They’re looking at confidence in going into the market. Broad-based rally, Financials JP up over 5%, Citibank up 8%, they’ve been laggards. Airlines, energy hotels. Gold and gold miners are down. There will be more opportunities to participate in this bull market. Hyatt up 8%. Hilton up 5%.

2. Right now there’s no indication of a retest of March lows. Never say never, but for now the charts are saying it’s full-speed ahead.

3. Energy is up and oil is having a huge day trading over $34. Probably needs to digest gains. People are starting to fly again and this trend will increase and go higher. That means hotels are gaining traction. If you don’t let people go back to normal, they’ll do it themselves.

4. Retail is looking very strong, ETF is up over 3% today. Dillars up $2, Macy’s up 10%. Bestbuy up. Restaurants are starting to boom. Stocks are looking very strong. Mickie D’s is up $4. Rest of the sector looks strong.

5. The market is affirming the charts. The charts have been telling us since the crash that the market was going higher and here we are. This could be the contrarian play of the decade. As long as the charts say go long, listen them. They won’ go up every day. Pundits look at the rear-view, Nick is looking straight ahead. Just because something goes down does not make it a buying opportunity. In this case Nick recognized the market bottom and jumped in with both feet.

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