InTheMoneyStocks.com's Chief Market Strategist Nick Santiago Calls The Financial Collapse in a radio interview on August 2007.
With the DOW near 14,000, the bulls on the run, our chief market strategist lost a few friends when he spoke of the issues plaguing the market back in 2007. Speaking specifically about the future of the market, how investors should be in cash .... not banks, sub prime, prime, auto industry, money markets. (August 25, 2007) (http://mp3.wtprn.com/Ansary/0708/20070825_Sat_Ansary.m3u 33:40)
"Alex, glad to be here. Its Inthemoneystocks.com, we formed this company earlier this year basically to give the small investor a chance. Because as you see what's going on out there, many, many people were looking at these headlines saying "Dow 14,000" and they had no idea what's about to come..." (Nick Santiago, InTheMoneyStocks.com)
"You have a crisis, its not just sub-prime, its also prime, its also these collateralized debt obligations, these derivative products that were created. " (Nick Santiago, InTheMoneyStocks.com)
"It doesn't look good for the us dollar. The outlook for the us dollar in the next 3-5 years is not very good, its very grim." (Nick Santiago, InTheMoneyStocks.com)
"We do not say pull out of the stock market. We trade both sides of the market. As traders we are neither bull nor bear. We follow the money flow. If we see the market about to make a move down as we did about a month ago we will alert our subscribers, guys lets get short this market lets play it to the downside and we all made a lot of money...." (Nick Santiago, InTheMoneyStocks.com)
"Look at Country Wide Financial, look at Citi Bank these companies have big, big liabilities on their hands and I believe they are in a lot more trouble then is being led on to the public." (Nick Santiago, InTheMoneyStocks.com)
"Right now I believe that most people should be basically in cash, trading very very lightly. Foreign assets is probably a better play the American assets at this time. I believe even that, you may have to be very careful because this is a global economy now. You've been hearing that story for quite a long time. Many of these markets are very very extended. Gold has out paced the Dow, gold is up 300 percent since basically 2003. So if that is not telling us something I don't know what is? I believe gold might fall a little more but you may want to get a hold and buy some gold if you see gold dipping here." (Nick Santiago, InTheMoneyStocks.com)
"At this point I don't like anything in the market accept being in cash." (Nick Santiago, InTheMoneyStocks.com)
"Even Money Markets are not even safe these days." (Nick Santiago, InTheMoneyStocks.com)
"Look at our US car market, Japanese cars are kicking the butts of the American cars and frankly they make a better product..." (Nick Santiago, InTheMoneyStocks.com)
"This country is very very leveraged we have a huge trade gap deficit with china..." (Nick Santiago, InTheMoneyStocks.com)
Nick Santiago, InTheMoneyStocks.com (August 25, 2007) (http://mp3.wtprn.com/Ansary/0708/20070825_Sat_Ansary.m3u 33:40)
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