{"id":17628,"date":"2022-01-05T06:48:00","date_gmt":"2022-01-05T11:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=17628"},"modified":"2023-02-16T02:36:03","modified_gmt":"2023-02-16T07:36:03","slug":"swing-trading-stocks-010522","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-010522\/","title":{"rendered":"The Wagner Daily &#8211; Tech Stocks Reversed, Exited Positions"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220106AMD.png\" alt=\"AMD daily\" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; January 5, 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; Buy&nbsp;<\/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=\"$todays watchlist\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/watch.png\" title=\"\"><br \/><br \/><a><strong><em>open positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220106OPEN.png\" alt=\"$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\/2021\/220106closed.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>Still long $MU.<\/li>\n\n\n\n<li>Stopped out of $AMD, $AMAT, $TSLA, and $TQQQ.<\/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>During a strong rally, most broad market indexes are pointing in the same direction and trading above key intermediate and longer-term moving averages such as the 50 and 200-day MAs. Generally speaking, leadership is strong or improving with plenty of valid basing patterns in stocks within 15-20% of 52-week highs. Breakouts should be working and following through to the upside after a short-term pause, along with new breakouts\/pullbacks on deck.<\/p>\n\n\n\n<p>In looking at the current rally, broad market averages are all over the place on the daily and weekly charts. $SPY and $DIA are at new highs while the Nasdaq Composite is at the 50-day MA. $IWM is below the 50-day MA but just above the 200-day MA. Growth ETF $IWP is below the 50-day MA and in danger of losing the 200-day MA. On Tuesday alone, there was plenty of divergence from $DIA +0.6% $SPY flat, $QQQ -1.3% and $IWP -1.4%.&nbsp; Leadership is shifting with mixed results on new breakouts and not much in the way of new setups on deck.&nbsp; This is not an easy environment especially with&nbsp;volatility increasing.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>For several weeks now, we&#8217;ve seen a clear shift in leadership with the market turning into a risk-off environment. Growth is out and utilities, REITs, oil, semis, banks, and transports are in.<\/p>\n\n\n\n<p>The Nasdaq Composite is holding on to the 50-day MA for now.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220106COMP.png\" alt=\"$Nasdaq comp daily\" title=\"\"><\/figure>\n\n\n\n<p>Tuesday&#8217;s bearish reversal action in tech land stopped us out of $TQQQ, $AMAT, $TSLA, and $AMD. We remain long $MU with a tight stop to lock in a +4% gain.<\/p>\n\n\n\n<p>With the exception of $TSLA, growth is off the table and we may stay clear of semis if they fail to hold Tuesday&#8217;s lows.<\/p>\n\n\n\n<p>$AMD is a big leading stock within the group that has struggled as of late. The pattern remains intact for now.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220106AMD.png\" alt=\"AMD daily\" title=\"\"><\/figure>\n\n\n\n<p>$AMAT closed off the lows but would like to see the price retake and hold above $160.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220106AMAT.png\" alt=\"AMAT daily\" title=\"\"><\/figure>\n\n\n\n<p>$QCOM closed higher up in the day&#8217;s range and could be the one to turn to if money flows back into semis.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220106QCOM.png\" alt=\"QCOM daily\" title=\"\"><\/figure>\n\n\n\n<p>$TREX is chopping around in a fairly tight range while finding support at the 20-day EMA. Tuesday&#8217;s NR7 day offers a low-risk entry over the day&#8217;s high. This is not an official entry.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220106TREX.png\" alt=\"TREX daily\" title=\"\"><\/figure>\n\n\n\n<p>There are no new official setups for Wednesday as our nightly scans did not produce much in the way of low-risk buy points other than $TREX.&nbsp;<\/p>\n\n\n\n<p>Our short-term plan is to patiently wait for new setups to develop in leading groups mentioned above.&nbsp; &nbsp;<\/p>\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>Other stocks to watch: $COST $BJ $SLAB $WIRE $SI (pop)<\/li>\n<\/ul>\n\n\n\n<p>See you in the chat room,<\/p>\n\n\n\n<p>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>Tuesday&#8217;s bearish reversal action in tech land stopped us out of $TQQQ, $AMAT, $TSLA, and $AMD. We remain long $MU with a tight stop to lock in a +4% gain.<\/p>\n<p>With the exception of $TSLA, growth is off the table and we may stay clear of semis if they fail to hold Tuesday&#8217;s lows.<\/p>\n<p>$AMD is a big leading stock within the group that has struggled as of late. The pattern remains intact for now.<\/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-17628","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\/17628","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=17628"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/17628\/revisions"}],"predecessor-version":[{"id":17632,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/17628\/revisions\/17632"}],"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=17628"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=17628"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=17628"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}