The Wagner Daily – September 14, 2021
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!
MTG Market Timing Model – buy mode (but cautious)
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):
- Stopped out of partial $ZIM for an 18% gain.
- Stopped out of $SNAP and 3% of $DDOG.
The S&P 500 closed +0.2% higher but is still trading below the 20-day EMA which is our line in the sand for bull market action. If the S&P is unable to reclaim the 20-day EMA soon that would signal a change in character.
Market conditions deteriorated for growth on Monday with growth based ETFs underperforming ($IWP -0.6%, $ARKK -1.9%, and $FFTY -2.7%).
With these ETFs all below the 20-day EMA there isn’t much evidence to support adding new long exposure.
The model portfolio stopped out of all $SNAP, 3% of $DDOG, and partial size of $ZIM.
Note that we have a tight stop on the remaining $ZIM just below the 20-period EMA on the hourly chart. For those who want to be more patient with the trade, a break of the 10-day EMA or 20-day EMA could serve as a sell signal.
Given the struggle to make progress lately, we are content to book a near 20% gain on the remaining shares.
$DDOG stopped us out of our 3% add below the 20-day EMA before reversing back above in the afternoon. We are still long a 4% position from our first buy in late August at 132.59. Our new stop is just below Monday’s low, which is a 1% loss (if triggered). Either the price holds this level or we are out.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.Add
- No new setups – Just Watching – $ZI $AFRM $DOCN $LULU $DLO $FIGS $NTRA $AMEH $LC $DDOG $GLBE
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.