{"id":17520,"date":"2022-01-27T06:48:00","date_gmt":"2022-01-27T11:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=17520"},"modified":"2023-02-15T22:52:26","modified_gmt":"2023-02-16T03:52:26","slug":"swing-trading-stocks-012722","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-012722\/","title":{"rendered":"The Wagner Daily &#8211; Trading $BAC: Shorting Opportunities"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220127BAC.png\" alt=\"$BAC daily\" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211;  January 27, 2022<\/h2>\n\n\n\n<p><em>Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).<\/em><\/p>\n\n\n\n<p><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Subscribe now<\/a><\/strong> 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. <\/em><\/p>\n\n\n\n<p><em>Just drop us a comment with any questions or comments&#8211;we&#8217;d love to hear from you!<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p><a><strong><em>MTG Market Timing Model &#8211;&nbsp; SELL<\/em><\/strong><\/a><\/p>\n\n\n\n<p>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&amp;P 500 or Nasdaq Composite.<\/p>\n\n\n\n<p><a><strong><em>today&#8217;s watchlist (potential trade entries):<\/em><\/strong><\/a><\/p>\n\n\n\n<p><img decoding=\"async\" alt=\"$todays watchlist\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/watch.png\" title=\"\"><br \/><br \/><a><strong><em>open positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/open.png\" alt=\"$open positions\" title=\"\"><\/figure>\n\n\n\n<p><strong><em>closed positions:<\/em><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2020\/closed.png\" alt=\"$closed positions\" title=\"\"><\/figure>\n\n\n\n<p><strong>po<\/strong><strong>sition notes:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>No trades triggered<\/li>\n<\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><a><strong><em>Commentary:<\/em><\/strong><\/a><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<p>One of the biggest mistakes a trader can make is over-trading or forcing the issue when there just isn&#8217;t much to do. All trading systems at some point go through a period where conditions are not ideal for entries and patience is a must. The earlier we recognize this, the better.<\/p>\n\n\n\n<p>Although broad market averages remain weak, many are extended from the 20-day EMA which makes for less than ideal conditions on the short side. Yes, these indexes could continue to sell off, but new short entries at these levels may require a very short leash should the price action reverse higher.<\/p>\n\n\n\n<p>We must also factor in volatility, which has been very high the past few days.&nbsp; High volatility makes it tough to find low-risk buy points in general (wild price swings).&nbsp;&nbsp;<\/p>\n\n\n\n<p>S&amp;P 500 support is 4,300<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220127SPX.png\" alt=\"$SP 500 daily\" title=\"\"><\/figure>\n\n\n\n<p>Nasdaq Composite support is 13,400<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220127IXIC.png\" alt=\"$nasdaq comp daily\" title=\"\"><\/figure>\n\n\n\n<p>There are no new official setups for Thursday.<\/p>\n\n\n\n<p>We are still monitoring energy stocks for pullback or bull flag entries, but nothing so far.<\/p>\n\n\n\n<p>As mentioned earlier this week, intermediate-term trend traders who do not short the market should be in cash waiting for a follow-through day buy signal. For those who do not mind playing the short side, as mentioned above, shorts are in play with a tight stop.<\/p>\n\n\n\n<p>On the short side, $BAC could be in play below the 50-day MA and Wednesday&#8217;s low after a bounce into the 50 and 20-day EMAs. The target would be the 200-day MA.&nbsp; This is not an official setup.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220127BAC.png\" alt=\"$BAC daily\" title=\"\"><\/figure>\n\n\n\n<p><strong>Unofficial Setups<\/strong> &#8211; For experienced traders only, no guidance is given for these setups.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>$BAC &#8211; sell short below Wednesday&#8217;s low with a target of $43.<\/li>\n\n\n\n<li>$SCHW &#8211; sell short below Wednesday&#8217;s low for a quick selloff to $86ish.<\/li>\n\n\n\n<li>$TTWO &#8211; sell short below Wednesday&#8217;s low with a target around $140.<\/li>\n<\/ul>\n\n\n\n<p>See you in the chat room,<\/p>\n\n\n\n<p>&nbsp;Rick<\/p>\n\n\n\n<p>For those new to this report, our share size is pretty conservative with max. size around 10% of equity per trade. We do this because we prefer to trade 10-12 names to keep the report active.\u00a0 However, if your goal is to maximize returns, taking 18-25% positions is the way to go.\u00a0 \u00a0If trading in a non-margin account, this will limit the portfolio to 4-5 positions.\u00a0 If on margin, then 8-10 positions. Our risk per trade on average is just over 1\/2 of 1%. Experienced traders may want to risk 1% to 2% per trade.\u00a0 \u00a0For example, a 20% position in a 100k account with a 6% stop loss would result in a $1,200 loss (1.2%).\u00a0<\/p>\n\n\n\n<p class=\"has-light-green-cyan-background-color has-background\"><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Start my Wagner Daily membership now<\/a><\/strong> to start receiving winning Morpheus stock trade signals, including a stock portfolio you can easily follow. <strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">The Wagner Daily PRO<\/a> <\/strong>includes <strong>live swing trader room<\/strong> for daily, real-time trade ideas and powerful stock trading education. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As mentioned earlier this week, intermediate-term trend traders who do not short the market should be in cash waiting for a follow-through day buy signal. For those who do not mind playing the short side, as mentioned above, shorts are in play with a tight stop.<\/p>\n<p>On the short side, $BAC could be in play below the 50-day MA and Wednesday&#8217;s low after a bounce into the 50 and 20-day EMAs. The target would be the 200-day MA.\u00a0 This is not an official setup.<\/p>\n","protected":false},"author":2,"featured_media":12060,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[782],"tags":[],"class_list":["post-17520","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wagner-daily-archives"],"_links":{"self":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/17520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/comments?post=17520"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/17520\/revisions"}],"predecessor-version":[{"id":17524,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/17520\/revisions\/17524"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media\/12060"}],"wp:attachment":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media?parent=17520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=17520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=17520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}