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 are trying to start a bear market rally. Today, the major indexes are higher across the board. tech seems to be the lagged despite being positive. That is something that catches my eye right away.
2. Energy is on fire today. Oil is trading higher by 5.9% to $84.00 a barrel. Oil looks very good on the charts. In fact, today I closed out an oil call option for 34% in one trading day. Energy stocks are also surging in the session. Natural gas is under some pressure today trading lower by 5.0%, but that needed to correct from a very overbought condition.
3. Tesla (TSLA) is falling today, breaking lower by 6.3%. The company came up short for Q3 delivery estimates.
4. Precious metals are strong today. Gold is higher by 1.5%, but silver is stealing the show with a 8% gain. As you know, silver is my favorite position right now. Full disclosure: I own SLV and SIL call options.
5. Bitcoin is flat, but trading above 19K. So it lives to fight another day right now, but as I have said repeatedly it will eventually fall below 13K on the next decline.
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