The Wagner Daily – Swing Trade in $RIOT & $MARA

The Wagner Daily – April 5, 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 –  BUY as of 3/16 close

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 $SPXL and stopped out of $GFI.

Commentary:

Broad market averages followed through on last Friday’s reversal action with solid gains in $QQQ and $SPY.  Tech outperformed with $QQQ up 2% vs 0.8% in $SPY. 

Per intraday alert, we bought $SPXL based on Friday’s reversal candle after a short-term pullback to the 8-day ema. $GFI sell stop triggered and we are out.

There isn’t much going on setup-wise in growth right now, especially since there are only a handful of growth stocks that are potentially in play. $SEDG could be ready to move and buyable on a breakout as long as volume is strong.

There is one new official setup for Tuesday’s session.

This is not our usual CANSLIM-based setup in a growth stock. This is a swing trade in $RIOT for a quick pop in a stock that is moving off the lows.  

The entry is based on Monday’s tight-ranged inside day just below the 8-day ema. The buy stop is over Monday’s high. $MARA , as stock in the same group has a similar look.

Unofficial Setups – For experienced traders only, no guidance is given for these setups.

• Longs – $MARA  $RIOT $TASK $DOCN $SG – swings over prior days high
• Shorts –

See you in the chat room,

Rick 

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

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.