Video: https://youtu.be/gHG-2w_0uBAMentorship Vid: https://blog.blog.blog.bullsonwallstreet.com/swingmentorshipPublic webinar recording: https://www.youtube.com/watch?v=rXg967Pz3dcThe was weakness today at overbought levels as the market pulled back and retested moving average support. While it got shaky intraday, but close all three indexes held support levels. While I normally would initiated shorts aggressively even above support off this type of overbought condition, the fact that market internals have been strong (T2108, small caps, breakouts, highs, bank earnings) kept me on the sidelines. Instead, I will wait for an actual break of support. If that doesn't happen, then I will add longs if the market starts to move off the consolidation range to the upside.Essentially, we are in wait and see mode, but will get aggressive once a signal is in. I took a small profit in NVDA today and only have the oil position now.Earnings List: GS, BAC, SGMS, EBAYRelative strength areas include Brazil, India, software and small caps. Beaten down areas like semis, retail, housing, biotech and energy are also starting to show strong bounce potential.Key long leveraged ETFs include TQQQ, TNA, LABU, ERX, SOXL, FASFocus List Longs (besides ETFs): QLYS, MDB, TEAM, CYBR, PAYC, FCX, CLF, CGC, UA, SPOT, DBX, LULU, HUYA, ROKU, WYNNPotential short plays: SQQQ, TZA, SPXS, FAZ, LABDCurrent Positions: Took profits NVDA. Still holding UWT.Today's video:
Please read the Education Archive and posts 23 Laws of the Part Time Swing Trading the Market Speculator Wayhttps://blog.bullsonwallstreet.com/23-laws-part-time-swing-trading-market-speculator-way/How To Use Swing Dashboard: https://blog.blog.blog.bullsonwallstreet.com/how-to-use-the-new-swing-trader-dashboard/Chat With Traders Interview: http://chatwithtraders.com/ep-058-paul-singh/29 Essential Trading Posts: https://blog.blog.blog.bullsonwallstreet.com/29-essential-swing-trading-posts-2016/New subscribers and trial members please leave me any feedback/comments in the comments, via email (singhjd1@aol.com) or twitter(www.twitter.com/PaulJSingh)
