GDX Short Term Update


September 15, 2016

Trader Scott’s Market Blog
Before today’s (9/15) open, I sent out a chart for the folks on the Trader Scott’s e-mail list. It was a short term trade that I was waiting for. I have constantly repeated that I LOVE buying markets that have supposedly “broken support”. I keep posting examples of this. I hope that people start believing me. And for the people with a long term view, this is how I trade/invest on any time frame. I totally RESPECT SUPPORT and RESISTANCE zones. When combined with being in harmony with the TREND, it’s a powerful combination. When the TREND is up, “they” (the “manipulators”) make it tough to get long. “They’re” selfish. “They” don’t want us making profits. “They” want the profits all to “themselves”. “They’re” bullish and believe the market is headed much higher. “They’re” focused on amassing a large long position. “Their” buying, in large part, marks the SUPPORT zones. “They” want you to buy at the wrong time – when “they’re” selling/shorting. And “they” want you to sell at the wrong time – when “they’re” buying/covering short positions. But buying into the reactions into/below SUPPORT in an UPTREND is something that I’ve literally done thousands of times as a trade. And many, many times as an investment. learn to do what “they’re” doing. AND THEN YOU WILL LEARN TO IGNORE THE INCESSANT WHINING ABOUT MANIPULATION.
So here’s the short term GDX chart that I sent out in last night’s e-mail, with SUPPORT and RESISTANCE zones marked. I said that I expected more retests of the low.I don’t know what’s going to happen in the future. That’s not my “job’ to know that. But what is my “job” is to work hard/be prepared every single day, so that I can take advantage of opportunities IF they arise. And one of my main tasks is to delineate the low RISK/high PROBABILITY entry points. That’s what success in this business is about. Preparing, anticipating, acting if the opportunity arises. And then managing the trade/investment once in.

Sign up for Trader Scott’s Market Alerts and Updates

And here’s today’s update showing what I’ve done so far:



img_0074bwcrsmTrader Scott has been involved with markets for over twenty years. Initially he was an individual floor trader and member of the Midwest Stock Exchange, which then led to a much better opportunity at the Chicago Board Options Exchange. By his early 30’s, he had become very successful in markets, but a health situation caused him to back away from the grind of being a full time floor trader. During this time away from markets, Scott was completely focused on educating himself about true overall health and natural healing which remains a passion to this day.Scott returned to markets over fifteen years ago where he continues as an independent trader.

'Trader Scott – GDX Short Term Update – September 15, 2016' has no comments

Be the first to comment this post!

Would you like to share your thoughts?

Your email address will not be published.

©Copyright One Radio Network 2019 • All rights reserved. | Site built by RedLotus Austin
The information on this website and talk shows is solely for informational and entertainment purposes. IT IS NOT INTENDED TO PROVIDE MEDICAL ADVICE. Neither the Editors, producers of One Radio Network, Patrick Timpone, their guests or web masters take responsibility for any possible consequences from any treatment, procedure, exercise, dietary modification, action or application of medication which results from reading or following the information contained on this website in written or audio form, live or podcasts. The publication of this information does not constitute the practice of medicine, and this information does not replace the advice of your physician or other health care provider. Before undertaking any course of treatment, the reader must seek the advice of their physician or other health care provider and take total responsibility for his or her actions at all times. Patrick Joseph of the family of Timpone, a man...All rights reserved, without recourse.