Video: https://youtu.be/VhncFVFkRB0Mentorship Session Recordings (NEW RECORDING): https://blog.bullsonwallstreet.com/swingmentorshipThe market bounce has officially failed as we continue Tuesday's slide and now look to retest October and then April lows. The market is set to open down between 1.5-2%. I have narrowed my focus list to inverse index ETFs SPXS, SQQQ and potential shorts in FB and NVDA. I may look to add one of these near the open (see video).On Tuesday I added TZA, which is the inverse ETF used to go bearish IWM by going long the ETF. That is popping this morning. The oil position is getting hit hard and is below our stop level. I will use gap down strategy to see if current levels hold, even though it is below our stop level. However, if it starts to slide in the morning I will get out of the trade. NFLX is at stop level and I will loosed stop by a few points as well (see video for more on gap down strategy).This failure is a good example of this line we've had every day in the report since the corrective market started - - ->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 (which the market is doing now).Trade small, don't get too aggressive and stay in protection mode.Potential longs: NonePotential bearish plays: SQQQ, TZA, SPXS, SOXS, FAZ, NVDA, FBCurrent Positions: Took profits LABU. Added TZA. Holding NFLX and UWT.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)
