Video: https://youtu.be/JxiRzydWitM*New* Mentorship Session Recording (2018 Stats): https://blog.bullsonwallstreet.com/swingmentorshipUGLY. There's not much more to say about today's market move. SPY was hit over 3% as were all indexes across the board. Today is why we have been cautious over the past few weeks. Market breadth indicators clued us in to a coming pullback, which is why we have been trading conservatively (I'll go over this more in the next mentorship session, but remember being a good swing trader is more than just stock picking. You have to know *when* to trade. Being conservative has allowed us to be profitable overall over the last 5 trades (including current short BIDU) while many are getting crushed. During these periods, if you can break even or just take small losses, you are beating most traders.Now we narrow our watch list to leveraged index ETFs that trade 3X the index and a few big names. There's no need to watch the rest of the market of stocks since most will do what the market does and we get leverage from ETFs. Watch key support on the daily and weekly chart for bounces (see video).Watchlist: SPXL, TQQQ, TNA, LABU, FAS, NFLX, NVDA,Current Positions: Stopped out TQQQ and UWT. Still holding BIDU short.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.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.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)
