Consumer Confidence Down, Gold Prices Up with Nick Santiago (Ep #105)

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. Last night after the closing bell, reported block buster earnings. The stock is trading higher by 26% today. This is the stock that is being added to the Dow Jones Industrial Average (DJIA), so that is positive for the DJIA going forward. This move is also helping a lot of the other leading cloud stocks today. Back in the day it was the railroad average. Now there’s everything, tech, pharma, heavy capital goods and now cloud computing. They have a tendency to get rid of under performing stocks and put in higher performers. Nick believes they added Salesforce to offset the Apple split. It’s really a nod towards the Cloud.

2. Dow down a little S&P Nasdaq up a little. Oil up a little bit. Transports are flat. Nasdaq is up 28% and S&P is up 6 percent. Other indexes are down. S&P was underwater and in up. You need to make the most money on the turns. Easy money is over.

3. Upside reversal in gold and silver almost every down tic gets bought. When consumer confidence slides, gold goes higher. Nick is a long term bull for the metals.

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