🙃 Why Traders Can’t Predict the World’s Most-Watched Commodity

Good morning. One year ago, oil prices went negative as traders feared that the pandemic would..

It's the monthly jobs numbers today and they're not going to be pretty and will be possibly the tip of the iceberg as we head into May.

Good morning. One year ago, oil prices went negative as traders feared that the pandemic would lead to prolonged drops in oil use and got caught in trades they couldn't get out of. Today, oil and gasoline prices have held up well in inventory reports. However, supply issues remain in the South and up and down the East Coast, even as Colonial pipeline paid a $5 million ransom to the hackers who shut down their system. A number of states have declared emergencies as supplies have run low. It just goes to show that oil, one of the most, and likely the most heavily watched commodities in the world, is one where even the experts can get blindsided. It's a sign that traders should be nimble and have a plan for emergencies. Think of it as having the equivalent of an extra gas can at home. Now here's the rest of the news: Sponsored Content Claim Your "Ten 10X Stocks" Report Now For months, Luke Lango – a top-ranked stock picker of 2020 – has been hunting for the next wave of revolutionary tech companies… the kind of stocks that can deliver exceptional 3X… 5X… even 10X profit potential. Right now, he's identified a whopping TEN STOCKS with 10X potential… And he's giving away the full details FREE. MARKETS DOW 34,021.45 +1.29% S&P 4,112.50 +1.22% NASDAQ 13,124.99 +0.72% *As of market close • Stocks rebounded on Thursday with all major indices moving higher. • Oil dropped 3.5 percent, closing at $63.77 per barrel. • Gold rose 0.3 percent, closing at $1,827 per ounce. • Cryptocurrencies generally sank, with Bitcoin last at $48,816. Today's TOP TIPS Tech Selloff? Consider a Defensive Play with a Powerhouse Franchise With the tech selloff, investors are looking to other parts of the market. Defensive stocks have held up well. But the real value in this market is buying into companies that can raise their prices to deal with inflation… and not lose customers doing so. Offering everyday low prices, one such area is fast food. These companies have streamlined operations, a loyal customer base, and haven't performed as well as some of the faster-moving parts of the market in the past year. » FULL STORY Insider Trading Report: Camping World Holdings (CWH) Marcus Lemonis, CEO and major holder at Camping World Holdings (CWH), recently bought 2,330 more shares. The buy increased his holdings by less than 0.4 percent, and came to a total price of just over $100,000. This is the first insider buy since March. Insiders have both been buyers and sellers in the past year, with an investment partnership being one of the bigger insider sellers. » FULL STORY Unusual Options Activity: Zoom Communications (ZM) While the pandemic lockdowns are all but over, at least one trader expects shares of Zoom Communications (ZM) to regain some of their recent decline. That's based on the September $290 calls. Nearly 6,300 contracts traded against a prior open interest of 114, for a 55-fold jump in volume. The trade has 126 days to play out, and with shares right near $290, it's an at-the-money trade. » FULL STORY IN OTHER NEWS • Hydrogen-Powered Vehicles: 3 Stocks to Power Your Portfolio In this Profit Trends special report, you'll discover... How three major companies are using hydrogen fuel cell technology to revolutionize the electric car industry... and how you could position yourself to profit before this technology goes mainstream. What makes hydrogen-powered vehicles a no-brainer over standard battery-powered vehicles in the field of alternative energy... and why minimum environmental impact means maximum opportunity for market growth. And why one up-and-coming company launched a $6.7 billion plan to go all-in on hydrogen-powered vehicles, and how its long-term commitment could produce big returns for early investors. And so much more! Get Your FREE Report (By clicking this link, you will automatically be opted in to receive emails from Profit Trends. You can unsubscribe at any time. - Privacy Policy.) • SpecTrust Raises $4.3 Million Defense startup SpecTrust has raised $4.3 million in seed funding. The company is working on a no-code platform for reducing cybersecurity risks to companies, promising infrastructure that can cut down the response time to threats. The seed funding stage occurs amidst the Colonial pipeline cyberattack has partially shut down the oil supply chain in the US. • Producer Prices Jump 6.2 Percent In another sign of inflation, the Producer Price Index rose 6.2 percent for the 12 months ending in April. That's the largest jump higher since the BLS started tracking the data in 2010. It's up 0.6 percent compared to March, a double from expectations of 0.3 percent. • Amazon Hiring 75,000 Workers Tech giant Amazon (AMZN) is looking to expand its workforce by 75,000. The company expects the average wage of new workers to top $17 an hour, and in some cases may even offer a $1,000 signing bonus. The new roles will expand the company's US workforce by about 8 percent. • McDonald's Looks to Raise Wages Fast food giant McDonald's (MCD) is looking to raise wages at its US stores. The current pay for entry-level work is expected to jump 10 percent, to between $11 to $17 per hour depending on the markets. Shift managers can also expect a rise to $15 to $20 per hour. This impacts 36,500 employees at company-owned stores. • Bitcoin Slumps Following Musk Announcement Bitcoin prices dropped nearly 10 percent following an announcement from Tesla Motors (TSLA) CEO Elon Musk that the company would no longer accept the cryptocurrency, citing the electricity used in mining the currency. Other cryptocurrencies also dropped, although some coins that offer low or green energy use moved higher. S&P 500 MOVERS TOP NUE 5.011% DXC 4.935% LRCX 4.852% PHM 4.783% MHK 4.525% BOTTOM OXY 5.613% FANG 4.127% MRO 4.073% XEC 3.756% ABMD 3.504% Quote of the Day Tesla has suspended vehicle purchases using Bitcoin. We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel. Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment. Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy. We are also looking at other cryptocurrencies that use <1% of Bitcoin's energy/transaction. - Statement from Elon Musk, CEO of Tesla Motors, on why the company was no longer accepting Bitcoin as a means of payment, but may embrace the space in the future. Sponsored Content Claim Your "Ten 10X Stocks" Report Now For months, Luke Lango – a top-ranked stock picker of 2020 – has been hunting for the next wave of revolutionary tech companies… the kind of stocks that can deliver exceptional 3X… 5X… even 10X profit potential. Right now, he's identified a whopping TEN STOCKS with 10X potential… And he's giving away the full details FREE. Not sure the best way to get started? Follow these simple steps to hit the ground running. › Step #1 - Get These FREE Reports: Warren Buffett's Top 5 Stocks | 10 Great Stocks Under $10 | 7 High Yield Dividend Stocks › Step #2 - Join Our Premium Advisory: The Next Superstock › Step #3 - Claim Your Free Copy Of: Big Book Of Chart Patterns | How to Trade Weekly Options For Weekly Income Nothing in this email should be considered personalized financial advice. ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment. By reading this communication, you agree to the terms of this disclaimer, including, but not limited to: releasing The Company, its affiliates, assigns and successors from any and all liability, damages, and injury from the information contained in this communication. 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