Good evening! Welcome to another PrimeTrading daily Update & Focuslist.
This Newsletter is a daily publication where you’ll be able to follow 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
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
Friday was a mixed day as we really struggled to gain traction in many names with an heavy sector rotation. However, we were able to get a very strong last 15min to close the week strong and more importantly close above SPX 4524$ pivot.
I still think that we have chance to go test 4581$ level that was a VERY IMPORTANT level that acted as the line on which we broke out of stage 2 uptrend back in January. We then tested this level again 2 times before going down for that second leg down.
We might see that level giving a potential real PB in the market this week as I’m sure big sellers will be step in right there. We want to see buyers stepping in and defending the raising 10 & 21dma.
So we might have a more challenging week than the last 2 imo. But we’ll see :)
Sectors:
Still Oil, Energy & Metals at the top, but CYBER still very strong along Leisure and Semis.
Software sector was weak this week, losing 8 ranks.
Portfolio UPDATE
I still try to keep a balanced portfolio between commodity/cyclicals names and technology names right now. We have a lot of rotation between these sectors and I feel having both keeps me on the good side and helps me smooth my EC.
Overall not a lot of action for me Friday, specially in a choppy day.
New positions:
Trimmed positions:
Closed positions:
EXPE (Tried to enter on on the 196.25$ pivot breakout but got stopped right away on market weakness) I’ll keep my alert at this level as the stock is still setting up well.
Market EXPOSURE
Based on my model, you'll find the OPTIMAL market exposure I'm aiming at having right now.
Full risk environment. Market is definitely trending higher and every PB is being bought RIGHT NOW. Things can change quickly, but right now model is indicating that I can push.
As explained in my Market Review section, if we reach that 4581$ level, I’ll be looking to trim or close positions that are lagging until I see that we don’t reject that level to hard. If we consolidate and breakout of this level, I’ll really push the exposure to 100%.
Daily FOCUSLIST
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. Keep in mind this information if trying to replicate my operation. (Which you should not do blindly)
Technical setups playbook:
Feedback!
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