Financial Survival Network, Released on 12/1/20

1. Markets are in rally mode again this morning. Yesterday, stocks stalled out as some money came off the table in the final trading session of November. But today it seems that money is flowing right back in. November was one of the best months that the market has ever had. Hard to explain why money flowed out yesterday and back in today. Markets have discounted the election for now. But Biden as president will cause them to tank. It will be a very long term decline, especially if Republicans lose the Senate. Don’t go short now before there’s a victor. The market is up for now on seasonal factors alone.

2. Financial stocks and energy stocks are both strong today despite being weak yesterday. It should be noted that today’s rally is broad based with almost every industry group trading higher. Wells, BOA, JP are all higher. Laggards showing strength so you want to pay attention. Energy stocks showing sounds of life. A lot of things are picking up.

3. Gold/silver finally caught a bid from an oversold condition. It’s a big move GLD up 3.14 and futures up 1.9%. SLV up nearly 5%. Futures are up 5.2%. Gold could be finding support at 1800. Silver at 23.50. Resistance is 1845-1850 on gold. It’s going to be a challenge to break that level. 1913 will be the next since it’s the 100 day moving average.

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.

  Biden, gold, nick santiago, stocks