One of the perks of being a subscriber of The Entry Points premium content is that Trader Scott sends our members comments every morning about market directions, movements and stocks we are watching for set ups. We release these comments in an edited form afterwards from time to time to allow our visitors a little peak into our premarket information:
6/7: In yesterday’s afternoon comments, I gave my reasons for selling out of the rest of my JNUG position. But I always sell too early, and an emotional spike higher is possible. The emotional spikes, after a rally higher, are weak handed buyers, so they are quickly reversed and then some. Gold has been leading the complex since the December lows, which is my preference, as gold pulls the rest along with it. The others can pull at times, but it’s temporary. Gold and the Yen continue to be attached, as the Euro is much more on its own. A banking crisis in Europe will very much help gold, (and) along with gold, (also) the USD, the Yen, and Treasuries. But the Treasury rally from the December lows is running out of time.
6/9: Gold is continuing its downtrend from the $1295 talked about for a target (numerous times) from last month, and the potential now for a mid-month (tradeable) bottom.
6/12: It’s one of those unusual days in the big markets where almost everything is down, and the alleged correlations are in hiding. Basically the only things up are the oil shares, the junior miners, and the Yen. So despite the Yen being up, gold, and bonds are down a bit. And despite gold, the juniors are having a good day, and the lowly frackers are outperforming oil. The useless focus this week will once again be on central bankers, but this is the world we are in (for now). Is there even one person in the world who actually makes money via trading real money, who spends most of their time focused on QE, “overvalued stock markets”, Donald Trump, and CBs. If so, I’d like to meet this person. So while hedge funds, popular websites, and the financial media will completely waste their time focusing on CBs, we’ll keep working hard and trying to spot the potential for opportunities in markets.
6/13: I have no idea what the markets will do with this (Fed) number, but for PMs, this time period. I expect there to be a couple of lows set up. A good break below..could set up a quick rally..Silver below..But I do not expect a more solid low yet. Silver is much weaker. GDX below..is my first spot for a better shot at the miners. And any rallies after the Fed in PMs are not for buying for me.
6/15: Why do people time and time again do this to themselves in markets? Why do they enter markets with emotion? The news yesterday, even the Fed, is all noise. As per the latest couple premarkets, “the news today did not change my overall view of PMs – and I will not buy into any rallies after the Fed meeting”. The heavy selling volume yesterday after the Fed is quite concerning, and things need to play out. Yesterday was pure emotional crap. I came in with a bias to get short on rallies. I lost money on that at first, but then shorted GDX after the meeting. NUGT and JNUG were “HTB” yesterday. I still expect a couple of tradeable bottoms. And please ignore all of the crap news out there, and stick to facts.
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