https://screencast-o-matic.com/watch/cY6nqOKlk0Even a guy like me who pays very little attention to the news knows what's going on today. The jobs report numbers were terrible and the market reaction has been swift. The beaten downs are showing extreme relative strength today with IWM looking like it will close green on renewed optimism for a stimulus package. That's because of another news event that might have gone under the radar: Trump has COVID! I am pleasantly surprised with the lack of panic in the market itself. RSP is green, IWM is green, and VIX is not popping big as would be expected. There just isn't much panic and we as a collective market now seems to be conditioned to handle bad news events with a stoic approach. We still should be cautious heading into the weekend. I would imagine that the stoicism we are witnessing goes out the window if Trump takes a turn for the worse. I am not adding any positions and have moved all stops to entry level for now, except AAPL at original stop and AMD is a point under entry level. If you don't feel comfortable holding over the weekend you may want to lighten up positions.Retail, airlines, casinos, restaurants, base metals and other "beaten downs are relative strength areas to watch.Relative strength list: ROKU, PTON, ZM, DOCU, OKTA, WORK, GRUB, EA, SNAP, TWLO, COUP, CRWD, IDXX, TSLA, AAPL, WHR, TOL, CHGG, W, SFIX, NTESBeaten 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 (potential 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, SKYYCurrent positions: Still holding AAPL, NAIL, DKNG, NVDA, AMD, CRWD.https://screencast-o-matic.com/watch/cY6nqOKlk0
Market Speculator Part-Time | Swing Trade Report
Paul
Singh
•
October 2, 2020

