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
POWER trend… this rally is quite impressive.
We managed to breakout of that 4581/93$ important level I talked about for a few days now. Let me stress this out, this is REALLY positive. That Ukraine news certainly helped in pre-market but, we were able to retest that level intraday and finish strong.
Now our job is to follow the trend. Price > 50dma and curving upward. We might get a PB, but we have to follow that trend and assume the rally will be bought.
Breadth:
Wow… Now above 40% stock > 200dma and we broke that channel from last summer participation peak.
Net 52NH above 100 & Net 1MNH above 1300, that’s impressive with a 2100 advance count. Broad market participation.
On the downside, We are VERY high on the McClellan momentum osc. @ 225 and also put/call at 0.41 is low.
Another thing, we approach the 7%-9% 50dma extension we normally see in a first rally off the lows before a PB. Yes, I’m still waiting for a PB, but might just be sideway action for a few days to give time to ema’s to catch up. At that point, the trend is pretty clear.
Sectors:
Except for Energy & Metals that were hit on the Ukraine war news, every single sectors were green today and participated in this big day. Impressive.
Portfolio UPDATE
Today was a rough & frustrating day. 6 positions gapped down huge on the war news (SBLK full) and I had to cut 1/4 position as per my rules only to see them close strong on the day.
I like how they found support at the 21dma & close strong. In fact, Metals & Energy names were the strongest sector “from open”. So yes, they gapped them down big, but they also been bought heavily during market hours.
I also made a few changes in the portfolio as you’ll see with lagging names. It’s that time that we have A+ setups popping everyday, so I don’t want to keep dead wood. Lost opportunity…!
New positions:
SLCA (added to my position on the BORS + BO10PB setup) I’m treating it as a new position
TGI (added to my position on the BO10PB setup) I’m treating it as a new position
Trimmed positions:
TELL (1/4pos on 10dma break)
MOS (1/4pos on 10dma break)
CF (1/4pos on 10dma break)
TMST (1/4pos on 10dma break)
BTU (1/4pos on 10dma break)
Closed positions:
SEDG (Dead wood after late day failed breakout)
KBR (Dead wood - came back below entry pivot)
EXPE (Dead wood - came back below entry pivot
Maximum EXPOSURE
Based on my model, you'll find the MAXIMUM 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.
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. Keep in mind this information if trying to replicate my operation. (Which you should not do blindly)
Articles on my system:
Feedback!
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I would highly appreciate if you could DM me with constructive feedback or new idea for that newsletter.
You have really done an impressive job since launching your newsletter, great content so nice work Alex. Currently, favourite daily read.