The Wagner Daily – March 30, 2021
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The Wagner Daily – March 30, 2021
Proven swing trading strategy, top ETF & stock picks, and market timing model…since 2002
| quick jump to:today’s watchlistopen & closed positionsmarket commentary | resources:subscriber guideour trading strategyblog | handy links:live mentorship room (members login) |
market timing model: S&P 500 – buy, Nasdaq Composite – 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):
open positions:
closed positions:
position notes:
- Per intraday alert, bought $AMAT.
Commentary:
Money continues to flow out of leading growth stocks with IBD 50 ETF $FFTY down -3% while the S&P 500 was basically flat.
The Nasdaq Composite has wedged higher the past two days and is now near resistance from the declining 10-day EMA. A break of 13,000 could lead to further selling.
$AMAT was added to the model portfolio on Monday per intraday alert. We have two positions in the portfolio with 8% exposure ($AMAT and $DEN), risking about $150 in a 50k account.
We are monitoring $X for an entry point after Monday’s breakout. Let’s see how the price reacts during the next few days.
We remain concerned by the lack of actionable buy setups and weak follow-through in recent breakouts, which is why we are taking a patient approach with the portfolio.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- Watching: $X $CLF $WSM $GMBL $KLAC $LRCX $AMAT $MARA $SI $MOGO
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