PrimeTrading daily Update & Focuslist - 04/04/22
Welcome to another Daily Update & Focuslist!
This Newsletter is a daily publication where you’ll be able to follow how I’m invested, along the names I’ll be looking to potentially enter tomorrow.
Enjoy ! ✌️
Disclaimer: This newsletter is not financial or investing advice. The information is for education purposes only and reflects only my own operation.
Market REVIEW
Market found support at the 10dma & recent 4524$ SPX market structure on Friday. This is the kind of action I wanted to see for a possible PB. If we were have rejected that 4580/90$ level on strength & volume picked up for a second day, that would have been troublesome.
Overall nothing to worry about, I’m still playing the PB in the rally rather than the rollover. Stay alert, this can change quickly if we retest the 4580/90$ level and we reject it on volume a second time.
Breadth:
Stocks > 50&200 - Flat
Net 52/1M NH - Flat but good numbers in adv/decl.
McClellan Osc. - Increased and back above 150. I would have like to see decreased further. Will see how we react this week.
Sectors:
Metals & Mining, Energy and Oil still leader sectors imo.
Good weekly gain in Biotech, Materials, Internet & Leasure (re-open play)
Portfolio UPDATE
I saw many breakout in leading names that were in PB for a few days now. I used that 10dma market PB as an opportunity to increase my exposure in names that I already had but gave another great entry Friday. I treat these second purchases as an independent trade with his own SL.
New positions:
BTU (BO21PB with a second entry - took entry on WB confirmation)
TELL (Aggressive BORS setup that paid - took the intraday BO 5.76$ level retest right at the open) An upgrade to 8$ per share by credit Suisse created that gap up
EXPE (Second try off the 197.87$ pivot breakout) I like how these Leasure names are setting up.
DAR (WB from a BORLish setup)
Trimmed positions:
PANW (Anticipated the close under 10dma & trimmed 1/4)
Closed positions:
Maximum EXPOSURE
Based on my model, I'm now allowed to have 100% exposure
Daily FOCUSLIST
Initial Stop loss is always placed at Low of Day, meaning I put my SL at the low of the breakout daily candle.
REFERENCES
Trading style:
I am a techno/fundamentalist swing/position trader. I’m a looking at a few days to few weeks timeframe for the bulk of my trades, but trying to keep the last portion for a bigger multi-months move if possible.
Articles on my system:
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