Bitcoin pioneer Charlie Shrem peels back the layers on the lives and backgrounds of the world's most impactful innovators. Centering around intimate narratives, Shrem uncovers a detailed, previously unspoken story of the genesis and evolution of bitcoin, cryptocurrency, artificial intelligence, and the web3 movements. Join Shrem as he journeys through the uncharted territories of tech revolutions, revealing the human side of the stories that shaped the digital world we live in today.
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Oil Takes a Dive — Nick Santiago 12-6-23 #548
MP3•Episode home
Manage episode 387958000 series 3281026
Content provided by Kerry Lutz. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Kerry Lutz or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
1. The major indexes are trading higher this morning, but we have been in a range since November 20th. Overall, the major indexes are just consolidating and that is not a bad thing after a big run up like we had since October 27th. Share buybacks at record levels and special dividends are on the rise.
2. Oil is down again today. Crude is now trading at $70.75 a barrel. I'm looking for oil to trade down to the $69.00 area. There will be short term support around that area. Most energy stocks are trading lower right now and that will likely continue in the near term. Natgas has been on the weaker side. Nothing goes up in a straight line. Since 10-31 it has gone on a zig-zag pattern looking for a bottom.
3. Financial stocks are catching another bid today. The important Regional Bank ETF (KRE) is trading higher by 2.15%. This is a bullish indication for the overall markets when this trades higher. Nothing terrible happens when the financial stocks are strong.
4. Gold is catching a bid today. It is rebounding after a sharp 2-day sell off. The reversal on Monday was sharp so we must watch gold closely going forward. It is possible to see more downside in the near term. Either way, if you are a longer term investor, gold is going to eventually breakout, but it has not happened yet.
5. Bitcoin is on fire in anticipation of a spot bitcoin ETF being approved by the SEC. Its now getting overbought, but it will likely hold up into the announcement. Traders should be careful of a buy the rumor sell the news event.
Visit Nick’s Site at: https://InTheMoneyStocks.com
…
continue reading
2. Oil is down again today. Crude is now trading at $70.75 a barrel. I'm looking for oil to trade down to the $69.00 area. There will be short term support around that area. Most energy stocks are trading lower right now and that will likely continue in the near term. Natgas has been on the weaker side. Nothing goes up in a straight line. Since 10-31 it has gone on a zig-zag pattern looking for a bottom.
3. Financial stocks are catching another bid today. The important Regional Bank ETF (KRE) is trading higher by 2.15%. This is a bullish indication for the overall markets when this trades higher. Nothing terrible happens when the financial stocks are strong.
4. Gold is catching a bid today. It is rebounding after a sharp 2-day sell off. The reversal on Monday was sharp so we must watch gold closely going forward. It is possible to see more downside in the near term. Either way, if you are a longer term investor, gold is going to eventually breakout, but it has not happened yet.
5. Bitcoin is on fire in anticipation of a spot bitcoin ETF being approved by the SEC. Its now getting overbought, but it will likely hold up into the announcement. Traders should be careful of a buy the rumor sell the news event.
Visit Nick’s Site at: https://InTheMoneyStocks.com
558 episodes
MP3•Episode home
Manage episode 387958000 series 3281026
Content provided by Kerry Lutz. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Kerry Lutz or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
1. The major indexes are trading higher this morning, but we have been in a range since November 20th. Overall, the major indexes are just consolidating and that is not a bad thing after a big run up like we had since October 27th. Share buybacks at record levels and special dividends are on the rise.
2. Oil is down again today. Crude is now trading at $70.75 a barrel. I'm looking for oil to trade down to the $69.00 area. There will be short term support around that area. Most energy stocks are trading lower right now and that will likely continue in the near term. Natgas has been on the weaker side. Nothing goes up in a straight line. Since 10-31 it has gone on a zig-zag pattern looking for a bottom.
3. Financial stocks are catching another bid today. The important Regional Bank ETF (KRE) is trading higher by 2.15%. This is a bullish indication for the overall markets when this trades higher. Nothing terrible happens when the financial stocks are strong.
4. Gold is catching a bid today. It is rebounding after a sharp 2-day sell off. The reversal on Monday was sharp so we must watch gold closely going forward. It is possible to see more downside in the near term. Either way, if you are a longer term investor, gold is going to eventually breakout, but it has not happened yet.
5. Bitcoin is on fire in anticipation of a spot bitcoin ETF being approved by the SEC. Its now getting overbought, but it will likely hold up into the announcement. Traders should be careful of a buy the rumor sell the news event.
Visit Nick’s Site at: https://InTheMoneyStocks.com
…
continue reading
2. Oil is down again today. Crude is now trading at $70.75 a barrel. I'm looking for oil to trade down to the $69.00 area. There will be short term support around that area. Most energy stocks are trading lower right now and that will likely continue in the near term. Natgas has been on the weaker side. Nothing goes up in a straight line. Since 10-31 it has gone on a zig-zag pattern looking for a bottom.
3. Financial stocks are catching another bid today. The important Regional Bank ETF (KRE) is trading higher by 2.15%. This is a bullish indication for the overall markets when this trades higher. Nothing terrible happens when the financial stocks are strong.
4. Gold is catching a bid today. It is rebounding after a sharp 2-day sell off. The reversal on Monday was sharp so we must watch gold closely going forward. It is possible to see more downside in the near term. Either way, if you are a longer term investor, gold is going to eventually breakout, but it has not happened yet.
5. Bitcoin is on fire in anticipation of a spot bitcoin ETF being approved by the SEC. Its now getting overbought, but it will likely hold up into the announcement. Traders should be careful of a buy the rumor sell the news event.
Visit Nick’s Site at: https://InTheMoneyStocks.com
558 episodes
All episodes
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