The Wagner Daily – August 6, 2021
Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).
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MTG Market Timing Model – buy mode (conditions improving for growth)
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):
closed positions:
position notes:
- $SNAP buy limit order triggered.
- Per intraday alert, bought $SQ.
In last night’s report, we said the following “Wednesday’s price and volume action was a step in the right direction for stocks on our main watchlist. We are beginning to add exposure and will continue to do so as long as new trades move in our favor. It’s tough to put much trust in anything other than semis right now, but that could change.” Thursday’s session produced solid price and volume action in leading growth names such as $SE, $SQ, $ZI, $DDOG, $HUBS, and $LSPD. For now, semiconductors and software are leading. Maybe other areas can pick up as well during the next week or two.
Per intraday alert, we bought $SQ on a breakout above range highs due to the heavy volume. We plan to add over Thursday’s high.
$KLAC is still looking good. Our buy stops are in place. Note the lower entry price for the final add at b3.
We added a second buy stop in $POWI 2% above the first entry (see today’s watchlist above).
Our $SNAP buy limit order worked out well, as the price bounced back from a weak open which is the ideal action to trigger a buy limit. When a stock opens higher and fails to follow through and then pulls back to our buy limit, that usually isn’t a positive sign in the short term.
We do not have an official buy stop entry for $SNAP over the highs, but that’s where we’d like to add if big volume comes in.
$ZI is not an official setup, we are just monitoring the action for now.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- $DXCM – breakout at 527.51
- $LSPD – buy at 97.75 (breakout above high of strong gap up day)
- $AMAT – buy at 145.51
- $MITK – look for price to open above Thursday’s close and then punch through Thursday’s high
- $SE – buy partial at 307.70
- ZI – pullback watch, $TSLA – bull flag, $S – look for the uptrend to resume over Thursday’s high after a few hours of chop
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