stocks

Here's What Chris Johnson, Tom Gentile, D.R. Barton, Jr., and Shah Gilani Saw in the Markets Today

By Money Morning Staff Reports, Money Morning • April 2, 2020

In order to help our Members navigate today's volatile markets, we started a brand-new live streaming service here at Money Morning.

Our experts - Chris Johnson, Tom Gentile, D.R. Barton, Jr., and Shah Gilani - are going to be with you every day that the markets are open.

They'll show you exactly what they're looking at and even give you some of the best trades to implement live.

Here's a brief recap of what they covered on Thursday, April 2...

Chris breaks down the jaw-dropping jobless claims number that came out this morning.
- 6 million Americans filed for unemployment (while the market was only expecting 3.1 million people.)
Chris thinks it's possible we see triple digits on the VIX in the near future.
- If you don't want to trade VIX options, you can buy the VXX ETN instead.
Here are two of Chris' "Best in Breed" stocks to start watching closely today:
- Zoom Communications Inc. (NASDAQ: ZM) - $120 limit buy target.
- Chewy Inc. (NYSE: CHWY) - $34 limit buy target.
Chris' final point: Patience is the key today.
- Buy the dip in small quantities only. Do not put all your money in at once.

Tom is not buying the rebound in oil today. In fact, he's looking to initiate a bearish put spread to profit off what he thinks will be a further decline in the commodity in the short term.
Since Tom is still long-term bullish on oil, however, he taught viewers how to put a "time spread" on USO to capitalize on both moves.

The U.S. trade deficit narrowed to $39.9 billion in February amid slumps in imports (it was $45.5 billion in January).
- While the headline sounds positive on the surface, it's not for good reasons.
R. has been short on Boeing Co. (NYSE: BA) for the last couple months, and he anticipates a continuation of its downward trend.
- But he also thinks it's too late to buy puts on Boeing today because the expected volatility has made it much too expensive.
- Boeing has recently found support at $100, and D.R. thinks it could make a "W-shaped" recovery if the government bailouts continue in its favor.
- Bottom line: Stay away from Boeing, but continue to watch it closely.

Although 6.6 million Americans filed for unemployment, the market seemed to shrug it off by the end of the trading day - with the Dow up 2%.
Investors responded favorably to President Trump's statement that Russia and Saudi Arabia are close to a deal to cut oil production, and we may be in the clear for now.
If you have some money sitting on the sideline, get ready to buy some stocks that Shah will share with you tomorrow.

Catch us tomorrow - starting LIVE again at 9 a.m. EST with Chris Johnson, right here.

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