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. Amazon announces earnings and it’s down 7% today. Stock hit a new all time high yesterday. Today it’s getting hammered. When you have this kind of run up you’re getting a buy the rumor – sell the news event. It’s trading 50% higher than it was during the March low. Nick warned all the members to get out. Parabolic moves require caution. It was a Pinnochio move. You’ll have to go to InTheMoneyStocks.com to find out more. Needless to say the market is always going to fake out the majority of investors.
2. Apple has been all over the map. It almost hit 300 and is down 1%. Lots of resistance. Stock is back to where it was in March. Got close to the 300 number and it became a pull-back candidate. It might need the economy to reopen, the chart
3. Gold and silver took hits yesterday but today is a different story. Good action for gold, it’s consolidated. It’s setting up for the mother of all break-outs. SLV is still a hold. Gold miners have been pulling back and then go right back up. Needs more time.
4. Oil is up another 5% 19.76. Trade is still negative. It’s had a nice pop. It could hit 30-35. If the economy starts opening up, people will start driving more. Hopefully the lockdown will end shortly.
The amount of money that has been created out of thin air by the Fed has got to be good for gold (and silver), especially in the long term. For more info, go to www.InTheMoneyStocks.com.
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