The Wagner Daily – $ONON Earnings Watch: Gap Up Alert

The Wagner Daily – November 16, 2021

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MTG Market Timing Model – BUY  

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:

• $NVDA 2% add triggered.
• Per intraday alert, bought 7% $ON.

Commentary:

The model portfolio stopped out of a small position in $TSLA and added to $ZI on Monday. Per intraday alert, canceled the add in $AMD.

Note the new stops in $S and $NVDA (on the 2% add). $S was up 15% last week, so we are raising the stop to prevent a decent winner from turning into a losing trade.

There are a few changes to today’s watchlist.

We raised the $RBLX buy limit order to $105. The $ABNB buy limit order was canceled and replaced with two buy stop orders. The first entry is over the high of Monday’s pause day. A pause day is a narrow-ranged candle that follows a wide-bodied accumulation day (last Friday).  The second buy is over the handle high.

$ABNB daily:

$ABNB cup with handle on the weekly:

$ONON is not an official setup as it reports earnings before the open on Tuesday. Watch for a possible breakaway gap up on volume.

$SLAB is also an unofficial setup that could be in play over Monday’s high for aggressive traders or on a pullback to the 10-day EMA at $200.

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

• watching $DDOG $SHOP $LC $SI $GOOS $PI

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