Andrew Maguire – We Almost Witnessed A Commercial Signal Failure In The Gold Market

 

Trader Scott’s Market Blog

I find most of the interviews on King World News to be completely useless or worse. But I thought that I’d pass along this one, as some of you might find it interesting. While I honestly have no ideawhat a “commercial signal failure” even is, (if someone wants to enlighten me that’s fine), I do agree with the conclusion. As most of you know, I have a big position in PMs, mostly via miner

ETFs, therefore I agree that they’re going much higher (on an investment basis, trading time frame is another matter).

But I’m not concerned with what a commercial signal failure is because as the old Wall Street saying goes: “Don’t confuse brains with a bull market”. If the TREND is up (bull market), I want to be long and adding on to my position into price weakness at SUPPORT. That’s the gist of it. Don’t overthink it.

But I want all of you to understand and accept what a TREND truly is, so that you can then appreciate the true magic of being long and patiently sitting in a bull market. As possibly the greatest trader of all time once said,

“Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money.” – JESSE LIVERMORE

So commercial signal failures, wars, currency problems, banking disasters,etc. – there’s a myriad of “reasons” that will push gold higher over the next several years. But you don’t need to know all of the “excuses/reasons”. You just need to know how to spot that the TREND is up and sit tight. And it truly is one of the hardest things to do.



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'Trader Scott – Andrew Maguire – We Almost Witnessed A Commercial Signal Failure In The Gold Market – July 17, 2016' have 2 comments

  1. July 17, 2016 @ 12:37 pm Dave

    Scott
    I agree about King World. I am in complete agreement that the trend is up in a big way.
    However I believe that gold will go below 1,000 before a trip into space. If someone bought at 1,500 it really is no big deal.
    Dave

    Reply

  2. July 17, 2016 @ 3:07 pm Suzy

    Trader Scott,
    Re; I find most of the interviews on King World News to be completely useless or worse.
    I am so glad you said that. Over the years I have read King World News off and on and thought the same thing. Nice to have it verified by you, an expert in the field :)

    Reply


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