Buying Reactions In Strong Stocks

November 2, 2017-1:20 pm traderscott What We're Trading 0

The Entry Points

The trend is the momentum, in the stocks and the markets in the huge uptrends, only with the prior (lower) huge accumulation areas. For the thousandth time, I am wildly bullish, long-term, on the stock market. Why? The huge 9 1/2 accumulation area. It’s a bull market. In a bull market the momentum is set. Why? The trend. With small stocks, or stocks in overall downtrends, the 1-3 day rallies (occasionally stretched out, like HMNY) are the momentum. The momentum is the trend. When the momentum/trend is up, guess what? The highest probability entries are in the reactions. Today I daytraded and exited a position – fills here – XNET gain, 11.37-12.92, OCRX loss, 1.64-1.62, NUGT gain from 10/26 buy, 28.48-30.06.

I gave my plans about my NUGT long on 10/31 in the 10/31 premarket: “I kept talking about that big resistance area in the USDJPY, and how the rally into it was hurting gold. The pair finally hit up against it and the reaction back down helped gold. I do expect an upthrust in the pair thru there. In the meantime. the resistance area in gold, to exit my NUGT trade, is 1284. My stop in NUGT is at scratch, 28.48.”

Also discussed is AMZN as the “momentum is in the trend”.

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About traderscott 1146 Articles
Trader 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.

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