Market Stuck in the Mud with Nick Santiago (Ep #88)

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 gapped up but settled down. Apple and Facebook great earnings and are up. Google down and breaking through its 50 day moving average. Apple 4 for 1 split. Amazon up strong. 3 out of 4 not bad Nasdaq. Last day of the month.

2. No summer doldrums. Be on the guarded side. Need to be aware of pulbacks. Watch the semiconductors. If they breakdown, look out below. Nasdaq is down .

3. Gold and silver up again. Overbought and hit over 2000 on the futures. Up 21 points today. Silver futures very strong. Have to watch for a good entry point. Missed the last move. Stocks are doing well today. Still long in the tooth. Still somewhat parabolic.

4. All restaurants have pulled back. McDonalds, Shake Shack, Darden, etc. are down a bit today. Not ready for re-entry.

5. Thoughts on the next stimulus round. These businesses can’t be helped if there’s another shutdown. A lot of businesses being forced to shut down and it could be their death knell. Doctors are being censored. Fauci’s rule is law. People are starting to wake up. Do your own research and figure it out yourself.

6. Last trading day of the month, could be window-undressing. Distribution is taking place. Trend is still up. Could see a big sell-off followed by a big rally. We still haven’t seen a big move up, which is cautionary.

For more info, go to www.InTheMoneyStocks.com.

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