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. Yesterday, markets declined which is typical after a Monday rally. Often, we will see a lot of backing and filling throughout the rest of the week. Bottom line, the trend is still up. When you look at different industry groups, tech has been the leader and doesn’t do much backing and filling. The easy money has been made.
2. Homebuilder stocks are strong today. The charts in this sector are holding up well. I have not bought this industry group yet, but they are acting well right now and I’m keeping them on my radar. Trader can track this group by looking at the ITB (ETF). Lennar and Pulte have identical chart patterns. No foreclosure crisis for right now. KB Home not participating. It’s not dire but it’s not going places.
3. Hotels, getting ready to reenter. Marriott, Hilton and Choice are looking good. Casinos are getting ready for a set up. Closed out LV Sands and made 22% in a matter of days. Airlines are having a rough time after their recent huge move. When Nick gets into a stock people hate it. Buy when things are on sale.
4. Nasdaq has been the leader, trading at record highs. None of the other indexes are at their highs. The trend is still your friend until the end.
5. Precious Metals are on fire. GLD, SLV, GDX miners are on fire. Nick’s been watching silver for the pattern and it’s starting to break out. Big resistance on SLV is $17.70. Money printing around the world. Central Banks buy gold too. There really is no other safe haven.
For more info, go to www.InTheMoneyStocks.com.
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