Video: https://youtu.be/S96bKmhNJOEMentorship Session Recording (October Meltdown): https://blog.bullsonwallstreet.com/swingmentorshipToday's video is important must watch for all members. I discuss the importance of adapting in this corrective market, review the positive overall alert stats since the market slide and the frustration some of you have had who have not been able to follow the plan and adapt. We also discuss taking small shots and hedging.Today was another typical day in a corrective market as mid day strength was sold, leading to more downside and a possible test of recent lows heading into the holiday. I took profits in the SQQQ trade and will only look to initiate another short if the market bounces and fails again. That's been the go to short play.A number of stocks showed some strength today and could be bounce plays if the market shows strength. They include NVDA, TEAM, PAYC, NFLX, FB and SQ.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: Took profits in SQQQ.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)
