The Wagner Daily – Stocks to Watch: $MU, $AMD, $TSLA

The Wagner Daily – December 27, 2021

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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:

• Per intraday alert, bought $MU and $AMD.

Commentary:

The Nasdaq Composite took a step in the right direction last week but remains on a sell signal. However, we did establish a few starter positions late last week in response to the Nasdaq reclaiming the 20ema and 50ma.

The S&P 500 remains on a buy signal from a very weak follow-through day (FTD) on December 15.

$XLK (technology) and $SMH (semis) are some of the better-looking ETFs trading near highs.

Per intraday alert, $MU and $AMD were added to the model portfolio due to the Nasdaq reclaiming the 20 and 50-day MAs.

We also have one new official setup for Monday in $TSLA on a pullback to the 50-day MA. We are looking for $TSLA to hold the 50-day MA minus some wiggle room, with a stop below the rising 10-day EMA.

Other stocks that could be in play this week are: $DDOG $SLAB $TTD $MDB $ARCB.

$MDB is only 7% off the highs and at the top of our watchlist for a pullback entry if one develops. Note the strong move off the swing low that pushed through resistance at $540.

Our short-term game plan is to monitor current positions for feedback. If these positions do well and the Nasdaq holds the 20-day EMA, then we will look to add exposure. If our positions fail to make much progress, then we will tighten up stops where possible to limit risk.

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

• none

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