Video https://youtu.be/-8gCndTY2tUAS we discussed could happen before the open, the market ignored some ugly inflation numbers and reversed the big premarket pullback, closing very strong with QQQ breaking it's 50ma and SPY just under the same level. Oil also popped and is just under it's 50ma. Many stocks are now either above or just below the key moving average resistance levels, which is our signal for the "secondary bounce" move that will lead to adding more positions. LABU and TQQQ are both showing major strength and I am not moving stops up to lock in profits in TQQQ and make LABU a "free trade" (see video).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.Our focus list strategy is to add bounce plays and relative strength stocks.Focus list in play: FANG stocks, ROKU, GWPH, BKE, KSS, RL, BIDU, BABA, SINA, TWTR, UA, X, RACEFocus List: SOXL, NVDA, LABU, KSS, URBN, BKE, TWTR, SNAP, FAS, FB, AMZN, GOOGL, NFLX, FCX, X, WTW, BABA, BIDU, BACurrent Positions: TQQQ and LABU.
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)
