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:
1. Markets remain weak at this time, but are starting to bounce back today. Believe it or not, we are nearing very overbought conditions, so there will likely be some short term bounces soon. Either way, this is a time to be nimble and very selective in the type of stocks that you own. Growth stocks are out of favor, but they will be the stocks that get the best counter trend bounces. If you are not a seasoned trader then just stay away right now.
2. Gold is holding up very well at this time. This could be due to the fear trade as the stock market drops. Even Bitcoin and the cryptos are falling and gold is holding. So much for crypto being the new gold.
3. Bitcoin looks like it’s on its way down to 35,000. Today, the popular crypto is trading down by 10% to the 38,000 level.
Click Here to Listen to the Audio
Sign up (on the right side) for the free weekly newsletter.