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The Dow traded 1% higher today despite a triple whammy of events working against logic.
Social unrest continues to be prevalent as protests ensued across the country.
Signs are showing the coronavirus recovery may be slower than expected even as summer gets underway.
And tensions between the world's two largest economies in the United States and China prolonged as China continues using Hong Kong as a political pawn in the trade war.
But either way the market breaks next, our experts – Chris Johnson and Shah Gilani – are prepared to help investors make money now.
Here's what they saw today, June 2…
- Chris thinks the fact that leading sectors are starting to slow a bit either signals a healthy consolidation on the way or the overall market is setting up for a well-deserved correction.
- The semiconductor sector has been treading water after its earnings season concluded.
- But the Nasdaq 100 tells another story as it continues to rally higher…
- For the remainder of the week, Chris will be closely watching market volume and the financials sector.
- He thinks investors should maintain a mostly bullish posture while being prepared to press their hedges if needed.
- Shah focused much of his live stream today on the U.S. Global Jets ETF (NYSEARCA: JETS), currently trading for $16.
- He thinks it's clearly in the late stages of forming a solid base. And it could break out just by reverting to the mean. There have been 62 consecutive days of inflows on good volume.
- JETS is a rotation play in an oversold sector that could easily double to $32 per share over the next 12 to 18 months, according to Shah.
- Shah finished his stream by answering a lightning round of viewer questions about the following stocks:
- Iron Mountain Inc. (NYSE: IRM), currently trading for $26.70 – don't buy for the 9.25% dividend because that will likely have to be cut if the stock doesn't rise from here.
- Store Capital Corp. (NYSE: STOR), currently trading for $20.80 – Shah also isn't recommending investors buy this stock because he thinks the dividend is unsustainable.
- Jernigan Capital Inc. (NYSE: JCAP) currently trading for $13.20 – avoid this stock as well because it lost $41 million last year with a $307 million market cap and a 7% dividend yield, which is also unsustainable.
Catch us tomorrow – starting LIVE again at 8:45 a.m. EDT with Chris Johnson, right here.
If you missed our live streams today, you can now replay them on our YouTube channel, here.
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