The Wagner Daily – November 15, 2021
Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).
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Our timing model was designed to keep our trades in line with the prevailing market trend, not to call tops or catch bottoms in S&P 500 or Nasdaq Composite.
today’s watchlist (potential trade entries):
closed positions:
position notes:
- $NVDA 2% add triggered.
- Per intraday alert, bought 7% $ON.
Stocks closed out the week on a positive note with Friday’s bullish response to last Wednesday’s selloff in the broad-based averages. We saw impressive accumulation in leading stocks such as $RBLX, $TTD, $DASH, $U, and $ABNB. $SHOP also woke up from a three-month-long base with a 12% gain on 3x average volume.
The Nasdaq Composite recaptured the 10-day EMA on Friday following a tight-ranged inside day. Whether or not this index moves higher from here or chops around for a bit we do not know, but the last two days of price action have been constructive.
The same goes for the S&P 500.
Small-cap ETF $IWM lagged the S&P but closed with a second inside day in a row and an NR7 day (NR7 is the most narrow ranged day of the last seven sessions).
With the current market rally in good shape, we will continue to add new exposure as setups develop.
The model portfolio added one new position last Friday via an intraday alert in $ON, as well as a 2% add in $NVDA.
$ON is in pullback mode following a breakaway gap up on 3x average volume. Note the light volume and constructive action during the pullback. We bought $ON after breaking the short-term downtrend line and consolidating above the 20ema on the hourly chart.
There are five new symbols on Monday’s watchlist. Three of the setups are new positions and the other two are small adds to $AMD and $ZI.
Note that we are focused on stocks that have gapped to or near all-time highs on very heavy volume.
In last Friday’s report, we discussed $NEWR as an unofficial setup. It is now an official setup in play over the two-day high with an add over the swing high. The gap up to new highs on 12x average volume and tight price action the past few days is too good to pass up.
$ABNB cleared the two-day high and the $200 level on a pick-up in volume last Friday. We have a buy limit order ready to go at $200 in case the price pulls back in.
There are no charts for the other official setups but below is a quick explanation of each entry:
- $RBLX – Buy limit order just above $100 in case the price tests this psychological level within the next few days (may hold $104 and not dip to $100).
- $AMD – Buy limit order to add near the 20-period ema on the hourly.
- $ZI – Add near Friday’s close using a buy limit order to avoid chasing.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- $PERI – buy stop at 30.30
- $LC – buy stop at 45.00
- $SLAB – buy pullback to $200, near rising 8 to 10-day EMAs
- $SAIL – buy stop at 60.87
- watching or pullbacks or breakouts in $DASH $COIN $SHOP $XPEV $DDOG
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