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:
1. Options expiration for September is this coming Friday. It is a quadruple options expiration which means that there will be 4 different asset classes set to expire. This makes for a very choppy and sometimes volatile week. Remember, the volume trends have been very light in the major stock indexes so we could see a wild week out here. Watch for unexpected news, rumors, and ridiculous up and down grades this week. I call this the real shark week.
2. Over the weekend there was news that House Democrats expect to propose raising the corporate tax rate to 26.5% from 21%. They are also looking to impose a 3-percentage-point surtax on individual income above $5 million. None of this is good for markets or for economic growth. We shall see where it goes over the next few weeks.
3. Natgas and inflation natural gas prices have gone parabolic and is trading at multi-year highs. Stimulus dollars coming home to roost. Europe is really gotten hit. Putin has them nearly 600%.
4. Bitcoin Walmart is not partnering with lightcoin, typical options ex. BTC went through 50k for one day and then the move failed. Nick is calling mid to low 20’s. Look out below. Beware of 38500, then 26000. Nothing goes down in a straightline. Still a chance to go higher.
5. Gold/Silver stuck in the mud, gold is up for now. 1797 gold futures. Silver down slightly.
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