1. This morning, the major stock indexes are trading up a little after being pounded on Friday. The talk of the town is still about these reddit boards or really Wallstreet bets. Now this group is pushing silver as the next great short squeeze. I really dont think this is a great short squeeze play, but I do think silver has all the reasons in the world to go higher eventually anyway.
2. Shortsqueeze Stocks Gamestop AMC and Silver. In Nick's opinion its Thursday parabolic move to 500 and today as of this show it's trading at $235. Robinhood is just trying to stay alive. Their liquidity was threatened last week. They didn't think this could happen. They needed to recapitalize $1 billion last week. There are bigger players working their game behind the scenes. Many hedgefunds are taking a hit now. Nick wasn't able to borrow shares to short it.
3. Gold/Silver SLV will not become a closed end fund. They want it to trade like a stock. The metal is pouring out of the Comex vaults as it becomes a delivery market. We've known for years that manipulation has been going on. If we take out certain levels, this thing could really take off. Reddit gets credit but silver has been showing higher relative strength compared to gold. If it takes out $30 then $35 could be next. After that it's $40 and $45 and old highs will be tested.
4. Bitcoin vs. Precious Metals - The grid may go down but silver and gold will always be around and they'll be money.
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.