The Wagner Daily – February 15, 2022
Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).
Subscribe now for your access to the best stocks for swing trading, proven Morpheus stock trading strategy, and market timing model with a 20-year track record.
Just drop us a comment with any questions or comments–we’d love to hear from you!
MTG Market Timing Model – SELL
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:
- No trades triggered.
If Monday’s lows in the S&P 500 and Nasdaq hold, then we may see a short-term bounce into resistance this week.
There are two new official buy setups for Tuesday looking to play stocks that are showing strength.
$DLTR reclaimed the 50-day MA last week and is now in pullback mode. Monday’s reversal candle is a buy signal, with the entry over Monday’s high. The stop is below the reversal candle low.
- Only 8% off the 52-week high with a group rank of 53 of 197 groups
- 12-month RS 93, 3-month RS 85
- Not shown is the relative strength line which is almost to new highs ahead of price.
$CNQ is tightening up on the daily chart during a 4-week consolidation near the 52-week high. $CNQ is a leading stock within the sector after an explosive breakout from its last base. Monday’s inside day is our buy signal with an entry over the two-day high. The stop is a bit loose for now below the 20-day EMA and swing low at $50.
- Only 3% off the high with a group rank of 1 out of 197
- 12-month RS 98, 3-month RS 97
- Relative strength line set a new high ahead of price (bullish sign)
Should the market selloff, $NET $CRWD $DOCN $TWTR are a few potential short setups that could be in play on weakness (break of Monday’s low).
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- Longs – watching $BCRX $CMC
- Shorts – $NET $CRWD $DOCN $TWTR $SHOP (below Monday’s lows)
See you in the chat 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%).
This list is a good starting point for monitoring the health of the market for those who have limited time.
https://morpheustrading.com/services/swing-trade-alerts
- Longs – watching $BCRX $AOSL $CMC
- Shorts – $NET $CRWD $DOCN $TWTR $SHOP
Start my Wagner Daily membership now to start receiving winning Morpheus stock trade signals, including a stock portfolio you can easily follow. The Wagner Daily PRO includes live swing trader room for daily, real-time trade ideas and powerful stock trading education.
