Financial Survival Network, Released on 1/28/21
1.The markets staged a high volume reversal day by the close yesterday. However, today the markets are rebounding, reversing a lot of the declines from the last session. Gamestop (GME) has become the talk of Wall Street as the stock traded as high as $500.00 a share before the opening bell today. While everyone knows the stock is parabolic it continues to go trade where nobody ever expected. Usually, Wall Street cries when a stock gets hammered on the short side, but I have never seen so much crying and complaining when a stock surges to the upside. You have to laugh at this. This is some real Trading Places stuff going on right now Mortimer. Apple and Tesla are reporting earnings and no one cares. Watch out for parabolic moves, Gamestop is the proof of it. 200-300 point moves taking place within 15 minutes is not a sign of a healthy market. It’s not the Reddit investors moving the market, institutions move the market. Hedge funds are all in on the same trades. Other hedge funds are trying to chop down their competition.
2. Gold/Silver Reddit traders on the move taking gold and silver higher. Silver up 4.6%. It’s been stronger on the daily chart than gold. Is Robinhood boosting First Majestic and blowing out the shorts. Now it’s hitting its prior high. In the end the taxpayer.
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.