Video: https://youtu.be/1UDagC7R694Mentorship Session Recording (October Meltdown): https://blog.bullsonwallstreet.com/swingmentorshipWe start the week market neutral, waiting to see if the current move is a continuation or dead cat bounce failure. The key here is if the market can remount the 200 ma or continues downward. A remount gets me slightly bullish, while continuation down slightly bearish.I do have a list of very strong stocks to trade if I decide to take longs. Shorts are likely index plays for now. BRIC counties continue to show relative strength, lead by Brazil. I am still watching oil for a bottom.Overall earnings season has been bad, although it did show improvement last week. That is a potential driver of the current market. I continue to mentor earnings reactions. Also, now that all FAANG stocks have reported with poor reactions, I am watching for signs that they reverse.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.Trade small, don't get too aggressive and stay in protection mode. We don't know yet if this is a true reversal of trend bounce or dead cat failure bounce.Potential longs: BRZU, INDL, BABA, SINA, BZH, TOL, CLF, X, WYNN, UAL, ORLY, ULTA, MDB, TSLA, CYBR, TWTR, TEAMPotential bearish plays: SQQQ, TZA, SPXS, SOXS, FAZ, NVDA, FBCurrent Positions: Still holding SQQQ and TWLO.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)
