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. July ADP Employment Change 167K vs 1.6 million, but the prior month’s number was revised to 4.314 million from 2.369 million. This Friday we will get the non-farm payroll report from the BLS. All I care about is the reaction from the market and not really the number that is reported.
2. Earnings season is underway, Some stocks are going higher and others are moving lower. Remember, it’s all about the reaction and not about the numbers reported. This morning, Disney (DIS) is reacting to the upside. On the other hand, Twilio (TWLO) is lower to start the day.
3. Gold and Silver just keep climbing. $27.8 Silver futures. Gold futures $2066. Off the charts. GLD up $3.30. Gold futures up to $2068. Incredible run. Looking back now, this isn’t over by any stretch. Of course due for a pullback. Dollar has been getting slammed. But the government continues to print like there’s no tomorrow. We may not ever know the true extent of the Fed Bank Bailout. Pullbacks can be violent. If you own the paper put in a trailing stop. Look at the last break-out and put the stop just below.
For more info, go to www.InTheMoneyStocks.com.
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