Financial Survival Network, Released on 9/8/21
1. More Money Rotation – This market has become a game of Hot Potato. Today, we are just seeing more money flowing from one sector to another. Right now, I’m seeing some strength in consumer goods stocks like $Pepsi (PEP), Clorox (CLX), Hershey (HSY) and others, Energy is also upticking today. on the downside, tech is weak today. The semiconductor sector (SMH) is lower by 1.1%. This is not a big deal but this is just the way the markets have been operating lately.
2. Coinbase (COIN) received a Wells notice from the SEC. The notice is related to Coinbase’s interest-earning product called Coinbase Lend which the company has not launched yet. The stock is down 3.4% today.
3. Bitcoin broke 50k only to get slammed yesterday. It was driven lower and Nick mentioned that the big money was short for the first time on the future. If it closes below 44k on a weekly close, it’s in trouble. The best moves come after a failed moved. Cascading panic coming? It happened with real estate
4. Gold/Silver got slammed yesterday. It was up strongly on Friday only get hit hard yesterday. Silver is the better play, with more upside to 25.50. Gold had a classic bounce. 1882-1883 is next.
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.