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. Nick sold off his remaining position in SLV and made another 12%.He’ll be going back in after the resistance passes. We had a break in the S&P. Head and shoulders is still in place. If we see it close above above the neckline, then we could be in for a big increase.
2. Nick is watching the energy market. It’s come back with a vengeance. TX, FL and GA have had successful reopenings so we are looking at higher energy consumption. Wisconsin’s recent court case this could be a sign of things to come. Nick has looked at every plague and we’ve never reacted this way before. For the sake of society we have to reopen.
3. Every sector is going to benefit from reopening. Refiners’ charts are acting bullish. Retailers are looking more positive with upside potential. Many large retailers have done quite well as demand for retail therapy increases. Those retailers that were doing well before the pandemic will do well as we reopen.
4. Malls are still going downhill. No reason to be there. Homebuilder stocks are looking strong. See ITB ETF. They’re holding up very well. They may be indicating that things might be better than they apppear.
5. Beware of central bank buying. You can’t fight the tape. Keep your opinion out of it!
For more info, go to www.InTheMoneyStocks.com.
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