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Nick Santiago: Be Careful With Precious Metals (For Now)

Financial Survival Network, Released on 1/12/21

*The gold/silver discussion begins at 8:56

1. This morning, the markets are somewhat mixed. The Russell 2000 Index (IWM, RUT) and the NASDAQ Composite are positive. The Dow Jones Industrial Average (DJIA) and the S&P 500 Index (SPY) are basically flat. So far, it’s a quiet trading session, so we will need to watch the chart patterns very closely now.

2. These alternate energy stocks have been on fire since early November 2020. Today, Plug Power Inc (PLUG) signed a deal with Renault. Please understand, while many of these alternate energy stocks remain strong they are now getting parabolic and that means they will likely start to retreat very soon.

3 Gold/Silver is in a holding pattern. Sitting on its 200 moving day average. One more down leg before we wash the pattern out. Be careful for now on PM’s.

4. Will there be a March crash? Not like last year but a lot of last year’s probelms will come home to roost this year. Trader’s market for 2021. Buy and hold coming to an end. Something is going to give. Rates are heading higher.

5. Real estate chart is hanging in there. When it hits the fan everything is going lower including RE. All real estate is regional. Open states versus closed states? ITB home builders’ etf is holding up well. Limited upside.

Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He successfully managed money for a large, affluent private client group. Nick is an expert in Technical Analysis. He is a highly regarded and accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. After applying his knowledge to his client base and meeting his personal monetary goals, he decided it was time to begin teaching those interested in learning his trading and investing methodology. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.com and realize his dream of educating others about the truth of the markets. He now co-heads the education department at InTheMoneyStocks and enlightens thousands of members, along with providing consulting services to hedge funds and institutions.

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