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
Another good day on the indices, but that was another story underneath as we got an heavy rotation out of the past couple weeks/months Energy & Metals leaders.
Net new highs pretty much flat but still red along Net advances. Not the best internal breadth you want to see as you advance and come into an important zone. Notice also that McClellan retraced on a pretty decent green day.
As I was noting in yesterday’s update, we closed pretty much at the 4581$ SPX super important level. Tomorrow will be VERY IMPORTANT for the ST action. We can either find selling pressure at that level, and initiate the pullback I think we are due for, or we could shoot right through that level in a show of strength. Open for both tbh.
Despite the big move from the lows, we don’t have an extreme extension from the 50dma (3.6% SPX & 4.6% NDX)
The big question for me… is the selling pressure in Energy, Metals, etc. was an early weakness sign in the leader groups and will lead to a wide pullback, or do we have a really strong market that we’ll have internal rotation along the way? Only time will tell.
Still true: so we might have a more challenging week than the last 2 imo. But we’ll see :)
Sectors:
Complete 180deg flip from Friday table… funny
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.
New positions:
SBLK (Opened the position on the early strength with the pivot breakout. Should have closed the position as per my rules, but was busy and couldn’t do it)
EXPE (Tried to jump the reversal off the late a.m weakness. Will see tomorrow if instinct are good. Risk very limited here with a super tight stop)
Trimmed positions:
Closed positions:
NEX (SL hit)
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.
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!
I really hope that you enjoyed. If you did, please share it so that more folks can be reached and this Newsletter can grow. :)
I would highly appreciate if you could DM me with constructive feedback or new idea for that newsletter.
$PGNY will it be better on 200SMA?
Hi Alex, thanks for your updates!
Let me ask you a question, why didn't you open a position on GOGL yesterday (03/28/22)?
Is it because you were not comfortable with the opening (first hour)?
Also, I was expecting to see your TELL position fully closed, as it crossed the SL yesterday.
BTW I'm learning a lot with your newsletter, I really appreciate your work, thanks!