Professional Trader Nick Santiago says that he does not have a lot of faith in the gold move right now to hold. He sees gold dipping below $1600/oz before it rockets much higher. Nick also discusses recent trades and how he is seeing the markets. 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. Nick now co-heads the education department at InTheMoneyStocks.com and enlightens thousands of members, along with providing consulting services to hedge funds and institutions.
Nick’s Twitter: https://twitter.com/NickSantiago01
Nick’s website: https://inthemoneystocks.com/
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35 Comments
This clown is so wrong!🤡🤡🤡
He said we no longer live in a capitalist society we live in a socialist society just after saying they’ll bail out Fortune 500 companies and not mum and dad savings accounts . Isn’t that an oxymoron?
This may not age well…
Sometimes I think guys like Nick simply want to stand out to be contrary to the contrarians. Not a big fan of "traders". A few years ago Jim Rogers was waiting for Gold to dip to $1000 before buying. Good luck Nick. You gonna need it buddy. END THE FED. Gold is money.
$50 oil and $1500 gold………ok then…………
They say the gold market is 7 Trillion?
That is 100,000 tons of gold at $2000 spot. You really think there is 100,000 tons of gold floating around out there? I think 2000 is the floor. If we go to 1500 it will only be there intra day. The 500 day moving average is solid at 1800. 1800 is my worst case scenario.
Load up on cheap options and leaps boys. NUGT January $30 calls will be +200% through to peak by close today with over 200 days to expiration.
"Retrace"?
This is the beginning of the end. Your core position should be fully entrenched and be prepared for massive crashes if the stock market locks up. Big wild card is silver and gold don't crash with stocks crashing but do the opposite, explode higher as stocks crash. And stocks probably aren't going to crash considering the fact that the FED will bail out the stock market and hasn't even cut rates to zero yet. All the money will eventually go into gold silver and oil.
Normalized as of the gold and silver September 26th lows 2022 there are a bunch of majors that are +200% there is another group, even larger in size, of producers that are +100%. There is no producer of any size that is negative since the spot lows. GORO if you want to nit pick. Even First Majest recovered its single day negative 25% hit on 5x above normal average. We're getting paid. The pay day is coming after a decade plus of bear market. Wait until the greedy computer algos take over. GDX is still 100% out of the money before it makes an all time high.
Realized sales price for producers for Q1 will be over 1800 and if we stay strong at 2000 until June 1st realized sales price will be 2000 for Q2 earnings.
2023 will be an excellent year for producers as they will prove strong free cash flow.
The believe that gold has to retrace to 1500 USD to fulfill some oscure technical chart pattern is nothing less than complete mumbo-jumbo!
I like brave calls. Who would say Ag at 18? Or Au at 1500? I wait for dips as well, but my fiat would leave me earlier. Thanks!
From my perspective, it looks like a stagflation, load up people. Wait did he just say that the dollar might strengthen???? I'm not so sure about that at this moment 😅
Interesting biases all around. Fear trade? How about interest rate mirror? Pretty easy to see precious metals have just been inverse dollar trades. And that’s ok, but having a bias that it “must hit my level” is silliness. Esp from a professional.
Yea HH nat gas “looks great here” but as a UNG bag holder I’ll admit, that chart is confirming real world supply is insanely oversupplied.
What a gift to us all as speculators IF gold pulls back to the $1,500 level as Nick suggests. I've already backed up the truck on miners in November '22. I'll go rent another 🚚 if it sells off to the $1,500 level. All that said, we may very well wish it doesn't go back to that level, because the scenario that implies seems very scary from a financial system / world stability perspective…..
"I missed that move" ohh that explains it 😉
Go Gold 🥇
Don't understand why anything 100% needs to hit a certain level before moving. Things will only likely or unlikely do things. This video makes no sense.
You would have to be nuts not to notice a major war in Europe and a currency war.
I don’t have a lot of faith in Nick Santiago.
He doesn’t seem to understand what moves gold
Gold has moved from 1600 to over 2k because of the change and expected change in monetary policy, not fear. He needs to do more homework.
What is he talking about when he says $1500 hasn't been " satisfied"? What does he mean?
What's the TA justification for $1500? A Fib retracement? If that's the sole reason, it's pretty thin. There's some minor support around $1500 set around late 19 to early 20, but still thin.
This is not the time for a break out in my humble opinion. Gold is all over the mainstream press and that's historically a major red flag. Troubles with the banks have been contained (not solved but contained) and the can has been kicked yet another time for the next x years. Goldprice already discounts significant easing and I can't see a new trigger short term.
Gold is moving up because of a shift in capital flows. It is overbought right now, but good luck with his $1500 move. This guy is a trader, clearly trades paper for his fiat illusionary profits, and will be totally caught out when he holds his illusionary paper profits, but can get physical for 20 times that value or more.
We’ll never see 1800s again
Everyday that goes by makes $1500 highly unlikely
Perhaps the worst call of 2023. We'll see
Is this a good time to buy Gold & stocks? I know everyone is saying stocks are at a discount and all, but just how long will It take for us to recover, obviously there are strategies to maneuver in this present market but these strategies doesn't come common to the average folk, or am I better off putting my money elsewhere?
Hilarious. I seriously think the serial traders are going to miss this entire move up and it serves them right. Keep waiting for that dip, Nick 😂 Have fun staying poor!
$1625 wasn’t close enough ?
You must have very extremely accurate technicals. You probably missed that low too.
1. The The No.1 existential requirement for the United States is to maintain, at all costs, the continued
suppression of fair market pricing for gold and silver.
2. Sunday evening, August 15, 1971, President Nixon appeared on nationwide television to announce
the United States was defaulting on its obligation to the world to exchange US dollars for gold. Since
then, the United States has operated a Ponzi scheme, allowing it to steal trillions of dollars from other
countries around the world and from its own citizenry. The damage the USG has inflicted on the
economies of the world and US citizens is incalculable.
3. The USG will lose control of its ability to fix the price of gold and silver at some point, and when that
happens, the result will be dreadful. It is bootless to spend time talking about the price of gold and silver
until the United States loses control of its price fixing scheme.
4. All Americans must shoulder the blame for this criminality as we failed to elect responsible, ethical,
leaders. Instead, we elected reprobates who focused on self-gain and what America could get from the
rest of the world, rather than working and thinking communally as part of a worldwide community.
5. Gordon Gekko was wrong, greed is not “good.”
Listen to traders is worse than l listening to witchcraft. Although I do think gold will have Major pullback.
4/13: Gold up $30
“Too stupid to quit” well, at least I’ve got that part down to a science.