Welcome to PrimeTrading Daily update! This Newsletter is a daily publication where you’ll be able to get where & how much I’m invested, along the names with precise entry points I’ll be looking to potentially enter.
You’ll find the following information:
Market REVIEW
Portfolio update
Market exposure
Daily Focuslist
Enjoy ! ✌️
Market REVIEW
Market just had another very powerful 10% 4 days thrust, which is HUGE. One, it is very positive for a potential continued rally but it is also indicative that we might get extended above the 50dma sooner than later. Since 2008, move above the 50dma range from 1 to 9.7% above the MA before we get a meaningful pullback. Notice also that we don't always rally the first time off that 50dma breakout, few occasion needed up to 3 attempt before really establishing a trend above the 50dma. So expect either a range or trend environment.
Take profit quicker & don't get too aggressive on that open heat.
Market breadth is really encouraging as we had a broad participation in the last 2-3 days.
Portfolio UPDATE
New positions:
CF (More aggressive trade but keeping my SL very tight. I'm looking at the potential HTF upside here.)
Closed positions:
NEX (SL hit - Overall a good trade as the setup was there & the risk was very small (0.2% eq.))
Market EXPOSURE
Based on my 3 model metrics, you'll find the current market exposure I'm aiming at having right now. Can change quickly as we're at an inflexion point right now (50dma)
Market based exposure:
75% +
Portfolio based exposure:
100%
Performance based exposure:
Full initial position
Daily FOCUSLIST
Feedback!
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Very useful information, thanks for sharing!
Great work, thanks