Video: https://youtu.be/npf9ersmu4YOur plan for an oversold bounce played out yesterday as the market was up between 2-3% with many stocks and sector ETFs soundly beating those numbers. Many stocks and ETFs reached or violated support levels before putting in strong reversal candles. This was our signal to enter long, which I did with LABU and TQQQ (stopped out SPXL), along with holding on to NFLX which is not at entry level. I also took profits in the URBN short early in the day because of the expected bounce.Now we watch for continuation and clearance of key resistance levels. After each level clears we become more bullish. If they fail we go market neutral or bearish depending on the action. It's important to be adaptable in this market and not come in with any directional bias.Focus List: SPXL, TQQQ, FB, BABA, NVDA, AAPL, LABU, X, FCX, LEN, OLED, FAS, SMHCurrent 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)
