Video: https://screencast-o-matic.com/watch/cYQFqeJ7KBAt first glance the market looks very weak, and yes price action is bearish as both SPY and QQQ break below the 50ma. However, it worth noting that it is a "top heavy" move down with the FAANG getting hit hard, IWM/small caps/beaten downs holding up well and equal weighted ETFs RSP and QQEW doing better than SPY and QQQ (see video). So we have mixed signals. Mixed signals lead to caution. I am currently slightly bearish, and may add a bearish position to hedge going into the weekend. This can be done with an inverse ETF or a bearish play like WIX. Zoom is showing strength and nearing profit target, so I have moved my stop to 384 entry level. AMD stop is in the low 73 range.Current postions ZM, SQ and AMD while red, are showing RS in their overall patterns with respect to other tech stocks. AMD stop is at bottom of stop range around 73.50, and I may hold a little below that.Potential shorts list: AMZN, SHOP, TTD, STMP, TDOC, WIX, NFLX, FB, INTU, DOCU, MELI, SPOTBeaten downs ETFs to follow: JETS, PEJ, BJK, XRT, XHB, MJ, XAR, DBB.Big tech: FB, AMZN, GOOGL, AAPL, TSLA, DIS, TWTR, MSFTIPOs: KC, NKLA, INO, GAN, RVLV, LMND, DKNGRS Extended (potenial longs and shorts): PTON, TSLA, ZS, SQ, SPOT, SHOP, WIX, TTD, ETSY, TAL, COUP, ZM, DOCU, FSLY, LVGO, BABAChina List: TME, YINN, HUYA, SINA, BABA, BIDUBD: UAL, RCL, CAKE, MGM, WYNN, MAR, H, EAT, SHAKETF LIST: SPY, IWM, QQQ, GLD, GDX, TLT, UVXY, EWZ, FXI, RSX, USO, XLE, XLF, SMH, IGV, XCC, XHB, XAR, MJ, XLV, XBI, IBB, CLOU, SKYYStill holding AMD, SHAK, ZM, SQ, ZSL and short TWLO.https://screencast-o-matic.com/watch/cYQFqeJ7KB
Market Speculator Part-Time | Swing Trade Report
Paul
Singh
•
September 18, 2020

