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. Gold is making new all time highs this morning. The precious metal has gone parabolic. This does not mean that the move is over yet. It means that once everyone gets in it at these levels or higher it will usually reverse back down. Ultimately, I still believe it can go a lot higher in the coming years. It’s occurring at the low end of the monthly chart. We’re only back to where we were in silver to the 2013 high. There’s 5 months left in the year and don’t forget we’ve got an election coming up, which could lead to some crazy moves.
2. Moderna (MRNA) is higher this morning on a new round of government funding and the start of phase three trials. Similar RNA vaccines are also being developed by several other pharma companies such as AZN, PFE, & JNJ. Government paid $1.5 billion for latest greatest Covid-19 vaccine. Who’s gonna take it? Not Nick or yours truly.
3. Commodity price inflation is here. The dollar has fallen, selling off sharply this month. It was at 97.61 at the start of the month. Now it’s around 93.50. That’s a huge boost for commodity prices.
4. Transports are having a great move. Up 1%. The pattern looks pretty good. Airlines are showing some weakness. Fedex, UPS look good. Homebuilders have broken out, without Nick. Restaurants are looking good. Hotels have had a nice sell-off. McDonalds is back over $200. We never had the sell-off Nick was hoping for.
For more info, go to www.InTheMoneyStocks.com.
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