Has Silver Turned the Corner? with Nick Santiago (Ep. #18)

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. June crude is bouncing, but a lot of damage has been done. The real peroblem now is in these ETF’s. They are all restrucuring to stay afloat now. Right now there’s no demand for oil. Once the economy gets started, assuming it does, we’re going to need oil and demand will spike. Right now there’s no place to store it.

2. Markets are bouncing today, but the close is more important than the open. The NASDAQ 100 is a bit overbought near term and will need to do some backing and filling before they can really advance again. Earnings are coming in and they’re going to be down dramatically. Even Netflix is trading down. Everything is poised to go up.

3. Silver looks good to me right now. Especially if the economy starts to reopen. It has a lot of industrial uses and often gets put in the class of an industrial metal and not a precious metal. i like the silver chart right now. SLV is up since Nick went into it. Silver could hit $16-$17. Should happen within the next month to month and half.

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

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