The Wagner Daily – September 8, 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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MTG Market Timing Model – buy mode
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:
- $CRWD and $SNAP orders triggered.
- Per intraday alert, bought $DOCU at $300.
- Stopped out of the first $DOCU entry along with the second half of $DLO.
Market averages pulled back on Tuesday in the -0.4% to -1% range, with the exception of $QQQ, which closed just above break-even.
In the short term, we could see more chop from market averages to allow moving averages to catch up.
$CRWD and $SNAP buy orders triggered in the model portfolio. Note that we stopped out of the remaining half position in $DLO just below breakeven (very small loss). The first entry in $DOCU also triggered its stop.
Ugly day in $DOCU, closing below the 50ma on volume. We still have a 3% position from our entry near $300 on Tuesday.
$CRWD buy limit order triggered buy did not hold up well, as it closed below the 10-day EMA on a pick up in volume. Note the tight stop.
$SNAP closed higher on a pick up in volume despite the weak tape.
There is one new official setup for Wednesday.
We have a buy stop in $RLBX over Tuesday’s high looking for the price action to follow through to the upside after undercutting and reclaiming the 50-day MA last week.
The protective stop is just below last week’s low.
$SQ is not an official setup but is potentially in play for a starter entry over the two-day high.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- $SQ – buy at 271.00
- $ATKR – buy at 92.06
- $AMD – buy at 110-111.37
- Others to watch: $FIGS $COIN $RRR $HCA $BASE $BYRN $PLXW
See you in the Live Trading Room
Rick
For those new to this report, our share size is pretty conservative with max. size around 10% of equity per trade. We do this because we prefer to trade 10-12 names to keep the report active. However, if your goal is to maximize returns, taking 18-25% positions is the way to go. If trading in a non-margin account, this will limit the portfolio to 4-5 positions. If on margin, then 8-10 positions. Our risk per trade on average is just over 1/2 of 1%. Experienced traders may want to risk 1% to 2% per trade. For example, a 20% position in a 100k account with a 6% stop loss would result in a $1,200 loss (1.2%).
Click on the link below to view this week’s watchlist in google sheets.
This list is a good starting point for monitoring the health of the market for those who have limited time.
DISCLAIMER: Past results are not necessarily indicative of future results. There is a high degree of risk for substantial losses in trading securities. All data and material on this website and/or electronically delivered to individuals is for informational purposes only, and should not be construed as an offer or solicitation of an offer to buy or sell any securities. By using the content on this document, user understands and agrees to full terms of this disclaimer.
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