The Wagner Daily – August 01, 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!
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 along with open and closed positions:
- Bought and stopped out of $PWR for a small scratch loss. Sold half of $SWAV to reduce size into earnings.
The Nasdaq Composite closed out last week’s trading in bullish fashion with a third day in a row of accumulation (higher close on higher volume).
As of Friday’s close, the Nasdaq is a bit extended from the 20-day EMA after taking out a major swing high and could use a day or two of sideways to lower action.
Solar stocks exploded higher last week and have joined biotech/medical as leadership. $ENPH and $SEDG are two of the better-acting names near highs. It’s a clear positive to see leadership expand.
The model portfolio bought and stopped out of $PWR last Friday for a very small loss. However, we may look to re-enter if the price undercuts the low of the wide-ranged up day and touches the 10-day EMA (a shakeout).
No official entry yet, just watching.
$LNTH reports earnings this week on 8/4. Given that market conditions have improved and we have a decent profit buffer, we will likely hold through the report.
There is one new official setup for Monday in $GWW, which gapped up and broke out to a new all-time high on earnings last Friday. The big volume advance is a buy signal. We are taking a small starter position over last Friday’s high with a stop beneath the low of the same day.
Watchlist – $EVH $FNKO $PWR $SEDG $ENPH $SWAV $PTCT $ON $ARIS
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- Longs – $CEG over 2-day high (strong breakout)
- 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.
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.
