Financial Survival Network, Released on 5/4/20
1. Warren Buffett is in the news today after annual shareholder meeting. He sold his stakes in the four largest U.S. airline carriers. I’ve never seen him sell out of a sector at the lows. I know he is good friends with Bill Gates, so maybe he is just trying to help his buddy accomplish his goal of the next Great Depression. He used to buy into markets in the past. In 2008, he was buying everything that he knew would be bailed out by the government, this time around nothing. I hate to say it, but its politics.
2. People are ready for the economy to open up. We are seeing this all over the country now. There are protests even popping up everywhere. There are even businesses that are called non-essential that are starting to open up. people are loosing patients now. According to Apple’s iPhone tracking, driving has doubled in the past 3 weeks.
3. More corporate earnings will be pouring in this week. Very interesting week for earnings. Large caps, not trillion dollar babies like Amazon. This will be very telling. The sexy tech names have past , but we are going to hear from a lot of other companies now that are not worth $1trillion or more. This week we’ll get a lot of companies providing parts to Apple for iPhones. 200+ companies per day reports earnings. So far it’s been sell in May and go away but Nick believes that we’ll still have another pop. It’s not always true. This time around perhaps not.
4. Gold/Silver is continuing the bullish pattern. Get ready for the upcoming jump.
Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He successfully managed money for a large, affluent private client group. Nick is an expert in Technical Analysis. He is a highly regarded and accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. After applying his knowledge to his client base and meeting his personal monetary goals, he decided it was time to begin teaching those interested in learning his trading and investing methodology. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.com and realize his dream of educating others about the truth of the markets. He now co-heads the education department at InTheMoneyStocks and enlightens thousands of members, along with providing consulting services to hedge funds and institutions.