The Wagner Daily – Closed Trades: $IR and $NVDA

The Wagner Daily – April 28, 2021

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The Wagner Daily – April 28, 2021
Proven swing trading strategy, top ETF & stock picks, and market timing model…since 2002

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quick jump to:today’s watchlistopen & closed positionsmarket commentary

resources:subscriber guideour trading strategyblog

handy links:

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Market Timing Model – Buy (in S&P 500 & Nasdaq Composite)

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 $HUBS.

Commentary:

With the addition of $CPE (buy limit) and $SNAP (bought via an intraday alert), the model portfolio is up to six long positions. Let’s see if some of these positions can follow through before adding more exposure.

We closed two trades in the model portfolio on Tuesday. $IR triggered a near break-even stop for a small loss. Per intraday alert, sold $NVDA for small -1.2% loss due to the lack of follow through from our entry.  Both losses totaled less than $70 on 50k, so very little harm done.

There are no new official setups for Wednesday. Please see today’s unofficial watchlist for some ideas.

As mentioned above, we bought $SNAP via an intraday alert as it took out the prior day’s high and created an engulfing candle-type look. However, the price weakened into the close. If Wednesday’s trading can hold above Tuesday’s close, then that would be a positive sign.

For those not already long buy stops can be placed above the 3-day high and at the handle high.

$CPE is perking up after several weeks of basing. $MTDR is also potentially in play above resistance. This is not an official setup.

$UNFI, like $CPE and $MTDR, has been in chop for a few months near the recent high. The 50-day MA caught up and provided support. A move through Tuesday’s high in the unofficial trigger.

If Semis see some buying, look for $AMAT and $ICHR to push higher. Financials $COWN $TIGR $LAZ and $FUTU are worth monitoring.

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

• $SNAP buy at 63.30 and 66.01
• $UNFI – buy at 36.18 and/or 36.92
• $ICHR – buy at 60.70
• $LPRO – buy at 38.77

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