The Wagner Daily – October 12, 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!
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, added to $UPST.
- $DOCN stop triggered for a small loss.
In last night’s report, we discussed the possibility of $SPY and $QQQ testing prior lows if last Thursday/Friday lows did not hold. On Monday, stocks followed through to the downside with both $SPY and $QQQ closing beneath the prior day’s low and the 10-day EMA. Unless there is some sort of quick, snap-back move above the 10-day EMA on Tuesday, we would expect further weakness in the short term.
The model portfolio stopped out of $DOCN on the open for a small -2% loss on a 1/4 position. Per intraday alert, we added another 1/3 position to $UPST. Per last night’s report, Ultrashort QQQ ETF $SQQQ buy stop limit triggered and we are now short $QQQ for a swing trade.
There are a handful of stocks that continue to act well despite the market selling off. These stocks may struggle to push higher until conditions improve- $MRVL DDOG $TSLA $AMBA $NFLX $PFRT $PANW $DOCN $TEAM $TSLA $BILL $UPST $APP.
$UPST may need a bit more time chopping around, but once the market finds some traction look for the uptrend to resume.
We will look to re-enter $DOCN within the next few days, especially if it touches the 20-day EMA and forms some sort of reversal candle.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
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.