PrimeTrading daily Update & Focuslist - 03/25/22
Good evening! 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
In all honesty, today’s strength really surprised me. Maybe we’re used to larger pullback due to last months market, but I was expecting a larger pullback than a 1day 5dma retest. NDX really lead the way today by closing higher than Tuesday high, which confirm the continuation here. SPX closed right at his Tuesday high.
Let’s take it, it just confirm the strength of this potential rally.
Breadth wise, another good push across the board on stock above ema, net new H/L (ok but still green), big advances push with 1000+ reading.
McClellan momentum went right back above 150, so we might get a couple high readings above 150 on that early strong first leg up. Back in end of 2018 bottom, that’s the type of action we saw with 2 weeks of consecutive readings of above 150.
Big 8% drop in the VIX as well, now below 22. It’s good, we want to see volatility get out of the market.
Sectors:
This was a broader participation day. Tech, Software, Solar, etc. did really well along Metals & Materials. This is the first real day we see both doing well. Last week we had either one or the other.
That’s a big day for semi’s…
Portfolio UPDATE
I 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.
New positions:
NEX (Missed the first pivot alert but I was able to enter on the mid-day pullback. We retested even lower & I entered there)
KBR (Took the trade right passed the pivot entry)
Trimmed positions:
TELL (1/2 pos)
Closed positions:
SSRM & HL (entered on the pivot breakout, but retraced back mid-day. Closed both positions with <1% loss)
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.