Video: https://youtu.be/SzO-cUVQoIgMentorship Session Recordings: https://blog.blog.blog.bullsonwallstreet.com/swingmentorshipThe market opened down ready to test October lows, but 2 hours after the open a hammer is forming. If the hammer holds heading into the close and continues to hold tomorrow, the Santa Claus really may be in effect. If this happens, I will go from slightly bearish to market neutral. At this point I'd likely add a long position. If we get a weak close, I remain slightly bearish with expectation of testing April and February lows.Silver, Resorts and Metals have lead the market over the past week. BRIC also remain strong. Surprisingly, semiconductors are showing a bit of relative strength as well (see video for discussion on positive divergence).As previously stated my bias is slightly bearish, and I am currently short IWM via TZA and short NVDA. I will look to add if support levels break. I will not look to go long unless the market breaks out strong. I have no stocks on the longs watchlist. If the market continues down, I will look to add by using inverse ETFs SQQQ, SPXS, SOXS.Stop for TZA is moved up to entry level. Stop for NVDA short is $160.Trade small, don't get too aggressive and stay in protection mode.Potential longs: USLV, BRZU, BHP, TSLA, FB, NFLXRelative Strength stocks: ILMN, WK, CYBR, ORLY, CHEF, TSLA, PAYC, TWLO, CROX, SBUX, DECK, TWTR, NFLX, IRBT, WYNN, UA, UALPotential bearish plays: SQQQ, TZA, SPXS, SOXS, FAZ, NVDA, FBCurrent Positions: Short NVDA. Still holding TZA. Stops moved to entry levels.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.blog.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.blog.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)
