The Wagner Daily – August 05, 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.
- Per intraday alert, sold $XBI for a 6% gain. Sold $SWAV for a small scratch gain.
- Stopped out of $LNTH at break-even.
Major stock market averages closed mixed on the session with the Nasdaq Composite up +0.4% vs a -0.1% loss in the S&P 500. Small and mid-cap ETFs $IWM and $MDY closed at -0.2% and -0.7% respectively. A -3.7% loss in the energy ETF $XLE weighed on the S&P 500.
In last night’s report, we mentioned the lack of low-risk buy setups from our scans, which is to be expected when the major averages are extended from the 20-day EMA on the daily chart. The same goes for tonight’s scans.
The model portfolio has one open position left in $GWW (a 5% position after the add).
Per intraday alert, $XBI was sold into strength for a 6% gain. $SWAV was sold just for a small gain due to the lack of profit buffer heading into earnings (Monday after the close). For those still long $SWAV, consider holding until late Monday afternoon and making a decision to exit based on the profit buffer. If up 10% or more, consider holding the full position. If up 5-8%, maybe cut back on size. If less than 5%, consider selling all or cutting size down to 20% or less of a full position.
The model portfolio also stopped out of $LNTH at breakeven.
There are no new official setups for Friday. Please note the $ENPH buy limit order was canceled.
We are monitoring $TAN for a possible entry on strength over Thursday’s high or on weakness, such as another test of the 10-day EMA.
$TAN cleared resistance on heavy volume and has since chopped around in a tight range on lighter volume with the 10-day EMA catching up.
This is not an official setup.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- Longs – watching $TAN $ENPH $SHLS $BMBL $MUSA $PWR $AGL
- Shorts –
See you in the chatroom,
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.