Bulls on Wall Street: Stop Guessing. Start Trading.

Friday may have been our "max pain" day, as SPY made a big down move to the 200 day moving average before reversing and putting in a major hammer the likes of which hasn't been seen since January of 2016. We added index play TQQQ at the end of the day in preparation for a continuation move. Remember not to "bet the farm" on these initial moves--that's how many traders got crushed on Wednesday. Instead, slowly add positions as the market proves itself by clearing new ranges. For us, that's a continuation of Friday's bounce, then clearance of the the 50ma and 9ema. After that look for breaks to highs. If the bounce fails, continue to be patient.

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: SOXL, NVDA, LABU, KSS, URBN, BKE, TWTR, SNAP, FAS, FB, AMZN, GOOGL, NFLX, FCX, X, WTW, BABA, BIDU, BA

Current Positions: TQQQ

In today's video, you will learn:

  1. How to formulate a relative strength list
  2. The importance of the T2108 indicator in trading market bounces
  3. The best oversold stocks to trade
  4. Sectors that are in play off the bounce
  5. How to assess the strength and continuation of a market bounce

Please read the Education Archive and posts 23 Laws of the Part Time Swing Trading the Market Speculator Way

How To Use Swing Dashboard: http://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: http://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)

About Paul Singh

Paul runs the popular Bulls Part Time Trader service. An experienced swing trader, he’s taught many subscribers how to make money trading while still holding a full time job.

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