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. This coming Friday is option expiration for February. By now, everyone knows this is a week of institutional game playing. The large institutions calculate where the small retail options trader has placed his bet and they will usually take stocks and move it away from that popular strike price this week.
2. Tomorrow the CPI report will be released at 8:30am. This report has been a market mover throughout 2022 and could be again tomorrow. Remember, a hot number would definitely signal to the market that the Fed needs to continue its rate hikes. A weak number would be the opposite. As I always say, let’s see the market reaction.
3. Gold is a bit weak this morning. I’m still in the camp that gold should coninue to trade lower from here. Obviously, there is a war going on in Ukraine with a lot of NATO involvement so it is difficult to get too bearish on the precious metals.
4. Bitcoin is stalling out today. It has had a huge run recently as the markets have inflated. Last week, Fed Governor Christopher Waller commentedon crypto assets; “a crypto-asset is nothing more than a speculative asset, like a baseball card… [if price goes to zero] don’t be surprised and don’t expect taxpayers to socialize your losses. If that is not telling is something I really don’t know what will. They are basically telling you nothing will compete with their currency. Ultimately, that will be the CBDC.
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