Video: https://youtu.be/zfogIIxBC3UHistoric day yesterday as the market wiped out a month of gains in one day, down over 4%. We knew a pullback was coming with the overbought conditions and market breadth indicating a narrowing market move. We used the meltdown as an opportunity to take profits in SQQQ and the LULU short (after hours), and were stopped out of TSLA. The plan today is to be patient, ignore the intraday volatility, and only enter the market if there is a strong reversal signal. The watchlist is narrowed today (see video).Note that I have loosed the stop in NFLX due to a potential bounce, but if the market slides more I will have to get out (gap down strategy).Focus List: SPXL, TQQQ, FB, BABA, NVDA, AAPL, LABU, X, FCXCurrent Positions: Took profits in SQQQ and LULU short. Stopped out TSLA. Still holding URBN short and NFLX.
Please read the Education Archive and posts 23 Laws of the Part Time Swing Trading the Market Speculator WayHow 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)
