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. Weekly Initial Claims 1.508 mln vs 1.35 mln. while it is lower than a week ago it is still not a great number. Weekly Continuing Claims 20.554 mln — prior was revised to 20.606 mln from 20.929 mln
2. Tomorrow is options expiration for June. So this is always a neutral trading week, and there can still be some game playing by the institutional money crowd. Overall, the trend is still up at this time in the major stock indexes despite the whipsaw this week. They’re playing Pin the Tail on the Donkey.
3. When something is moving up very sharply, they’re extremely vulnerable because the goal is to make the options expire worthless.
4. 20 year old commits suicide after losing $750k on options bull spreads. I we don’t know, we don’t do. Nick will never hedge, he’ll just buy puts and calls and stocks. Hope is for church, not the stock market. Don’t overleverage. Most people can’t abide by stops loss orders.
For more info, go to www.InTheMoneyStocks.com.
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