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. Market has been quiet since before noon. Typical options ex. Sideways move, nothing major. Most indicies are flat. For Monday, you never know what you’re going to get. Market is prone to a down move and then we’ll see from there.
2. Stocks can be all over the map to assure that retail option traders don’t have to get paid. Weekly options are a bad move. Not enough time to make money. May be okay for a day trader. But avoid weeklies. You need to give yourself 2-3 months time. They are much cheaper because there’s no time premium.
3. Gold and silver are strong once again. They’ve been relentless to the upside. Nick is thinging a pull back for next week. Metals and miners are up once again. Nick will sit back and wait for the inevitable pull back. Don’t chase them higher The gold futures chart has been sideways. The charts are saying there’s way more ahead for the metals. $1750 was the big resistance point. We are overdue. Maybe on Tuesday.
For more info, go to www.InTheMoneyStocks.com.
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