The Wagner Daily – $BILL Buy Stop Triggered: Friday Action Crucial

The Wagner Daily – October 15, 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 (from FTD on 10/14) 

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):

open positions:

closed positions:

position notes:

• Added half positions in $BILL, $SNOW, and $LC.
• Added 2% to $UPST.

Commentary:

I apologize.  No video for tonight’s report, but it will be back next Thursday.  

The MTG timing model is on a buy signal after Thursday’s follow-through day (FTD) in the Nasdaq Composite, which gained +1.7% on higher volume. The Nasdaq also reclaimed the 20-day EMA.

With a FTD in place, let’s see if recent breakouts can push higher while new setups emerge.

Midcap ETF $IWP reclaimed the 50-day MA, a positive sign for growth.

The model portfolio added another 2% to $UPST on the open, which cleared the highs of a high tight pattern on its way to a 10% gain on heavy olume.

$BILL buy stop triggered on the open. The close was well off the highs and below the breakout pivot. Look for Friday’s action to hold above $300.

Per intraday alert, bought the breakouts to new highs in $SNOW and $LC.

There are no new setups for Friday. Please note the changes to $DDOG buy limit order. $SE buy stop remains live.

We have a decent amount of exposure as the Nasdaq puts in a follow-through day, so let’s see how these trades play out next week.

Just a reminder that the model portfolio looks to buy liquid growth stocks with accelerating quarterly EPS or sales growth near 52-week highs. These stocks for the most part will have IPO’d within the last 5-10 years. The portfolio will also buy stocks that lack eps or sales growth but have a strong relative strength rating of 90 or higher. The relative strength ratings are based on a 3, 6, and 12 month RS rating from IBD.  

Unofficial Setups – For experienced traders only, no guidance is given for these setups.

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