Video: https://youtu.be/Hwp5r0QWGisMentorship Recordings : https://blog.bullsonwallstreet.com/swingmentorship/The premarket gap down did not reverse and continued down to break premarket lows. SPY was down 1.3% and QQQ was down a whopping 2.25%. Key levels are breaking. SPY broke below it's 50ma and looks like the 200ma could be in play. QQQ and IWM broke their 9emas. We remain patient watching for continuation or reversal. This is a bad spot to establish shorts since the market is extended to the downside . It's not a good idea to establish shorts after a big move down. I will only short if a bounce fails or after consolidation. Keep in mind that historically even if there is a bounce here it's probable that these levels will be retested. For that reason, I will be selective on bounce and not leverage heavily or take lots of positions.My stop for IQ short moved to entry level after a big move down.Keep an eye on UVXY. Retail is holding up well.Focus List: UVXY, TQQQ, SQQQ, FB, AMZN, NFLX, TSLA, DBX, NVDA, SOXL, ERXIPO LIST: ROKU, HUYA, SPOT, IQ, SHOP, DBX, APRN, BILI, NTNX, BRUB, AAXN, OKTA, SNAPCurrent Positions: Stopped out BIDU. Holding IQ short and UWT.
Please read the Education Archive and posts 23 Laws of the Part Time Swing Trading the Market Speculator Wayhttps://blog.bullsonwallstreet.com/23-laws-part-time-swing-trading-market-speculator-way/How 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)
