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. Last week’s options expiration is now over. That is always a time to be more on the neutral side. So this week it’s important to really see what kind of chart patterns are forming on the charts. This really means individual stocks, sectors and indexes. So now the real work begins.
2. This week Nick will be watching the airline stocks very closely for positive chart patterns to form. Right now it seems like they are all raising capital. UAL, AAL and others are raising money, so we shall see how the charts set up soon in a couple weeks for these stocks. In the media we keep hearing about the spike in virus cases around the country, who would want to fly, but the charts will tell us the real story.
3. Nasdaq has been the leader. Apple is up $5 today. A few other names are up Google, Netflix, Invidia. Narrowing of the market, which can be a warning sign. Direction of the market is uncertain. We are holding trend. June 11 was a perhaps awaning sign. Any time you get a high volume decline from a high you need to on an alert.
4. Gold and silver are both the big winners today so far. Money is continuing to go into precious. We broke the $1750 mark in gold. As long as we don’t see it break that $1788. There’s a lot more upside. Seasonality has changed for gold and
5. Travel sector has pulled back but they’re on Nick’s radar. Hotels are filling up for the holidays this year. Airlines are raising capital. Pattern will be interesting. Southwest appears to have an emerging pattern. $40 calls could be a good move. Colony Capital is consolidating isn’t something Nick would buy.
6. Nick gives a little bit about his personal history. Started with a class in high school on investing. He’s mostly self-taught. He was a stock broker for a number of years and transitioned to trader.
For more info, go to www.InTheMoneyStocks.com.
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