Video: https://youtu.be/wUbv-Ny3LtI*New* Mentorship Session Recording (2018 Stats): https://blog.bullsonwallstreet.com/swingmentorshipFree fall. The market was in free fall today, and unlike what too many people were expecting, it did not close strong and give us a reversal signal. SPY closed in the bottom half of the daily range, IWM at the lows and QQQ in the middle. Not exactly the strongest oversold reversal setups.We must remain patient and protect our profits, only getting aggressive on strong signals. BIDU gave us that today, putting in a near bullish engulfing candle at the end of the day. So after taking profits in the short earlier in the day, we reversed course and went long near the close. (see video).Gold was strong today, as was UVXY. Also some stocks like BABA, SPOT and FB ended there slides temporarily.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, AAPL, FB, SPOT, UVXY, JUNG, NUGTCurrent Positions: Took profits in BIDU short. Went long BIDU off oversold bounce setup.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)
