The Wagner Daily – August 24, 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:
- $AMD buy stop triggered. Per intraday alert, added to our position.
The Nasdaq Composite led Monday’s rally with a +1.6% gain on higher volume. The S&P 500 gained 1% on lighter volume and underperformed the small and micap growth ETFs $IWO and $IWP. With growth perking up, it’s time to add more long exposure. Our short-term plan is to get the portfolio up to 3-5 long positions and see what sticks.
There are two new setups for Tuesday in $ZIM and $SNAP.
Shipping stock $DAC broke out to new highs on solid volume Monday. We look for $ZIM (a shipper) to do the same this week. Our first buy is over the base high with an add 2% higher.
The last 4 quarters of sales growth in $ZIM are: +20% +64% +112% +200%.
$SNAP is back in play for us as the price cleared the highs of the past few days and reclaimed the 10 and 20-day EMAs. We have a buy limit order to enter on slight weakness.
Let’s see if growths are ready to shine after several weeks of chop. Stay tuned for intraday alerts, in case we have to add more exposure.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- $UPST – buy at 207.00 or wait for test of 10ema
- $DDOG – buy at 133.12
- $LC – pullback to 10ema at 27.50
- $KLIC – buy at 66.30
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