The Wagner Daily – Intraday Re-Entry: $SNAP

The Wagner Daily – April 29, 2021

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The Wagner Daily – April 29, 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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S&P 500 buy, Nasdaq Composite buy

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 $KSS and re-entered $SNAP.

Commentary:

New breakouts in growth stocks are holding up but lack the explosive price action we are used to, as conditions remain less than ideal for growth.

Money is flowing back into energy after a month or so of rest which has helped our recent entry in $CPE push 10% higher in a few days. Let’s see if we can increase our exposure to this group within the next week or two.

Per intraday alert, we re-entered $SNAP after stopping out on the open. The re-entry was based on the bullish reversal action as the price cleared the prior day’s close in the last hour of trading.

The model portfolio stopped out of $SNAP on Wednesdays’s open, but per intraday alert, we re-entered as the price action reversed higher and turned positive on the day.

Per intraday alert, we bought $KSS at (b) on the chart below. This is an early pivot, allowing us to enter prior to the obvious breakout (if one develops).

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

• $PUBM – buy at 56.60
• $NET – buy at 63.30 and 66.00
• $SIG – buy at 65.40
• $FCX – buy at 39.95
• $PYPL – buy at 278.00

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