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Sell On Monday and Go Away – Tesla Joins The Club – Nick Santiago

Listen to “Sell On Monday and Go Away – Tesla Joins The Club – Nick Santiago 11-17-2020 #161” on Spreaker.

 

 

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1. Markets are selling off today in a broad based decline. Today’s move is reversing a lot of the gains made yesterday. It seems that lockdowns around the country are spooking the markets today, despite all of the vaccine news that we have been hearing lately.

2. It seems like the cloud software stocks are doing the best today. It is understandable since they are usually considered the stay at home stocks. A few pharma names are going up. Vaxxer stocks are down.

3. Tesla was finally put into the S&P 500 Index. This will take place on December 21st, 2020. The stock is trading higher by about 10% on the session. The stock has been chopping around since early September. Trading at $447. It was common knowledge that it was entering at some point, but why now. The charts told the story, if it didn’t enter the S&P 500 it would have crashed. Now all the fund managers have to buy.

4. Gold/Silver are pretty much flat at $1886. GLD flat. Miners down. Sideways Silver.