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. Yesterday, there was a late day sell off after Joe Biden announced that he picked his vice president running mate. The market sold off immediately afterward the announcement even though he did not reveal who he chose. Later after the market closed, we heard that Biden chose Kamala Harris. I think the market had already figured this out and today we are back to normal.
2. Today, the NASDAQ Composite is seeing a bounce after a 3-day decline. A lot of the leading cloud software stocks are rebounding today after seeing some sharp selling over the past few days. Overall, these markets can start to get a bit more tricky as we get closer to the election. Very good day for the market, so far.
3. Crude continues higher. Nick thinks we’re headed higher. Potentially as high as $55. Energy stocks have been acting well. It’s making it’s way through uncertain times. Shut down hit the energy stocks extremely hard. Airlines aren’t flying.
4. Covid reports are completely distrusted by more and more people. Everyone knows it. HCQ reports have been flawed. It’s going to end shortly. Protect
5. Gold and silver got slammed. That’s what happens when a market goes parabolic. The lesson is in the chart pattern. When things go parabolic, they’re going to crash. It will come back. You wait for the pattern. Mining stocks took a hit, but not as much as the metals. It’s only natural. GDX went from $16 to $45, so a pull back to $39. You want to see the miners stronger than the metal. Best thing that could happen. Gold futures up, silver futures down slightly.
For more info, go to www.InTheMoneyStocks.com.
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