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. The Russia / Ukraine war is still front and center. I believe this is now day 8 for the conflict. Oil prices spiked overnight to $130.00 a barrel. While this commodity is overbought and extended there is nothing to say where it is going. If there is a peace resolution then oil will drop sharply, but I’m not sure that will happen anytime soon. There is simply an attempt to cancel a super-power, which I don’t see working. This could be really bad for the world and once NATO gets more involved we could be looking at an even bigger War , potentially WW-3. This is not a good situation right now.
2. Gold continues to outperform with the Russia/Ukraine crisis. Like oil it can continue to climb as it is the ultimate fear trade. People want a hard asset as opposed to a fiat currency or even crypto. Gold is outperforming crypto right now by a large margin. That tells me precious metals are the ultimate currency.
3. Financial stocks have been tanking lately. In fact European financial stocks have led the decline and look horrible on the charts. Deutsche Bank AG (DB) and Credit Suisse Group (CS) are making new 52-week lows and CS stock is close to an all time low. That tells me Europe has bigger problems than the rest of the world right now.
4. Rumors that Putin has been nominated for a Nobel Peace Prize for ending the pandemic are totally false.
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