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. May ADP Employment Report -2.76 mln vs -9.0 mln; Goods-producing: -794,000; Service-providing: -1,967,000; Small businesses: -435,000; Medium businesses: -722,000; Large businesses: -1,604,000 … This is much better than expected. Now we will have to see what is reported this Friday when the BLS non-farm payroll report is released. How many of these people are actually unemployed from the standpoint?
2. Gold and silver pulling back which is welcome and expected. Not a parabolic moved. This is healthy for gold longer term. Sell off on GDX down to $32.50. SLV has taken a 3% decline. Another entry point is on its way.
3. Pat on the back for the following trades BP has finally gone into the black. McDonalds broke $190 and Nick has taken half the money off the table. RIO is also up signifcantly. Also took 23% gain on Wells Fargo. Remember, you’re only as good as your last trade. This business is a marathon. We don’t gamble here.
4. S&P 500 broke 3100. Dow is at 26,000. Everyone doubted Nick’s call on the market bottom, but here we are. Perhaps the March Crash was foreseeing Covid-19 and the resulting civil unrest and now it’s signaling all clear ahead. Which proves that everything most people know about the market and the economy is wrong.
For more info, go to www.InTheMoneyStocks.com.
Click Here to Listen to the Audio
Sign up (on the right side) for the instant free Financial Survival Toolkit and free weekly newsletter.
from Kerry Lutz Podcasts – Financial Survival Network https://ift.tt/2Mq32Mz
