Financial Survival Network, Released on 1/29/21
1. Gamestop (GME) & AMC Entertainment (AMC) are the talk of the town right now. Yesterday, the popular brokerage firm, Robinhood, restricted trading in GME, AMC and a bunch of other highly shorted stocks. This news caused a major drop in GME stock yesterday. Then before the closing bell yesterday, Robinhood announced that they would allow GME and others to trade again. Earnings from FB, Apple, etc. Weekly expiration. Everything is on the table.
It amazes me that Robinhood and Gamestop are the names that are involved here in this Wall Street drama. Personally, the brokerage firms should just let these stocks trade and let price go where they will, but there are obviously some big players (hedge funds) and select brokerage firms that are in trouble here. It’s all about the brokers.That is why so many people of importance are stepping in. Where are the hedges on their portfolios? Do they exist. Very similar to Hunt Brothers in 1980. The Treasury, The Fed and Wall Street. Naked shorts are most vulnerable. Who will be left to pay the margin calls.
2. Gold/Silver nice pop in gold futures 1%, silver futures up 5%. All the great moves in the market came during short squeezes, built-in demand. Will it happen for precious metal. It’s a new era.
3. What will be the next Gamestop? Time to cash in on these stocks.
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.