Market Speculator Part-Time | Swing Trade Report

Paul
Singh
October 26, 2018
How to trade stocksbows-opengraphTrading-Watch-List

*Sunday* Mentorship Session: https://attendee.gotowebinar.com/register/4169717922797425409Video: https://youtu.be/NAqCIrZ8JqUMentorship Session Recording (2018 Stats): https://blog.bullsonwallstreet.com/swingmentorshipYesterday's bounce is being faded this morning as AMZN and GOOGL both are set to open with poor earnings reactions. We continue to hold our short positions. If the market slides this morning I will likely take profits in one of my index shorts (long inverse ETF) and take profits in BABA if it hits $135 or lower.Remember strong bounces are common in corrective markets. They only signal a potential shift in trend if they take out key resistance levels coupled with strong market breadth signals. Yesterday's green day did not qualify.Earnings reactions continue to act poorly, another bad signal for the current market.The game plan now is to:

  1. Let shorts play out.
  2. Look for potential bounce plays
  3. Continue to montor relative strength.
  4. Monitor S/R levels on indexes and stocks
  5. Monitor earnings reactions

*While I am bearish and expect more downside, the market can change on a dime. We really don't know what's going to happen. Also keep in mind that within corrective markets we often see powerful bounces. Trade small, don't get too aggressive and stay in protection mode.We will watch support today and keep an eye on intraday reversals. If that happens, there's a chance we take a long bounce play in index ETFs or beaten down stock like NVDA or SQ.Potential Bounce List: TNA, TQQQ, NVDA, SFLY, ROKUPotential Shorts: ALL FAANG stocks, LULU, BA, ETSY, ORLY, DIS, NVDA, ROKU, CYBR (too many more to list)Relative strength list: MCD, ULTACurrent Positions: Still holding SQQQ, SPXS, BABA shortToday'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)

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