PrimeTrading daily Update & Focuslist - 03/23/22
Welcome to another PrimeTrading daily Update & Focuslist!
This Newsletter is a daily publication where you’ll be able to get how I’m invested, along the names with precise entry points I’ll be looking to potentially enter tomorrow.
You’ll find the following information:
Market quick review
Portfolio update
Market exposure
Daily Focuslist
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. Keep in mind this information if trying to replicate my operation. (Which you should not do blindly)
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
Another solid day in the market with an even larger breadth participation than yesterday. Stock above 50 & 200dma continue to increase steadily, net new H/L along adv/decl. all pointing higher.
McClellan begin to be high here (194) specially after 6 consecutive green days off the bottom. A pullback to retest the 10/21dma would be healthy at this point. You want to see low volume on the down days, not distribution though.
I’m looking at the 4580$ on the S&P for a potential resistance level.
Sectors:
We had a sector rotation today as technology stocks in general had a very good day, along Solar, Clean energy & Biotech. The more sectors participating to this rally, the better. You want to see a broad market participation if we want to have a real sustained move.
Metals, Energy, Miners were pulling back on low volume today, They closed strong however. I expect a good day specially for the Metal and Energy sector tomorrow. We’ll see!
Portfolio UPDATE
New positions:
TELL (Decided to buy on the 4.15 pivot instead, I have a feel we can gap up on this one if Natgas is going)
Trimmed positions:
AOSL (1/2 pos)
Closed positions:
GOGL (Overall good trade, small loss. I took the WB entry and maybe should have wait for the lower risk 12.38 pivot)
Market EXPOSURE
Based on my model 3 metrics, you'll find the OPTIMAL market exposure I'm aiming at having right now.
Still a full risk on environment. However, considering the 6 consecutives up days & the high McClellan oscillator reading, I’ll be probably looking to trim my full positions if they pop tomorrow and don’t take other positions until we have a pullback. Just want to control risk and smoothing EC.
Daily FOCUSLIST
REFERENCES
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