{"id":18716,"date":"2021-06-14T06:48:00","date_gmt":"2021-06-14T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=18716"},"modified":"2023-02-24T02:44:37","modified_gmt":"2023-02-24T07:44:37","slug":"swing-trading-stocks-061421","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-061421\/","title":{"rendered":"The Wagner Daily &#8211; $INMD Chop Mode: Buy or Wait?"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210614INMD.png\" alt=\"$INMD daily\" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211;  June 14, 2021<\/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 mode<\/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 id=\"watchlist\"><strong><em>today&#8217;s watchlist (potential trade entries):<\/em><\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210614watch.png\" alt=\"$todays watchlist\" title=\"\"><\/figure>\n\n\n\n<p><br \/><a id=\"positions\"><strong><em>open positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210614open.png\" alt=\"$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=\"http:\/\/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>&nbsp; &nbsp; &nbsp;Per intraday alert, bought $SNAP&nbsp;<\/li>\n<\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><a id=\"etf\"><strong><em>Commentary:<\/em><\/strong><\/a><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2023\/02\/image-28.gif\" alt=\"\" class=\"wp-image-18720\" title=\"Anchor\"><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2023\/02\/image-29.gif\" alt=\"\" class=\"wp-image-18722\" title=\"Anchor\"><\/figure>\n\n\n\n<p>Momentum is building on the daily chart of the Nasdaq:<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210614COMP.png\" alt=\"$Nasdaq Composite daily\" title=\"\"><\/figure>\n\n\n\n<p>Money continued to flow into growth stocks last week. The bullish price and volume action in $NET, $ASAN, $APP, $INMD, $CRWD, $ZS, $GNRC, $CDNA, and $SE (and a few others) is a positive sign for our trading system.<\/p>\n\n\n\n<p>There are two new setups for Monday&#8217;s session.<\/p>\n\n\n\n<p>In last Friday&#8217;s video, we discussed $CRWD as a potential pullback buy (unofficial) at $225. We still like $CRWD for an entry near Friday&#8217;s close, if we can get it. We have a buy limit order in place.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210614CRWD.png\" alt=\"$CRWD daily\" title=\"\"><\/figure>\n\n\n\n<p>$INMD is in chop mode after gapping above the swing high near $86. With solid numbers all around, it is a must-own for us on strength over last Friday&#8217;s high, or on weakness near the rising 10-day EMA.<\/p>\n\n\n\n<p>The official entry is with a buy stop.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210614INMD.png\" alt=\"$INMD daily\" title=\"\"><\/figure>\n\n\n\n<p>Model portfolio moves &#8211;&nbsp;<\/p>\n\n\n\n<p>Per intraday alert, we bought $SNAP on an intraday pullback after breaking out last Friday. For those not already long, consider an entry near last Friday&#8217;s close using our current stop.<\/p>\n\n\n\n<p>Due to the reversal action in $RBLX last Thursday, we moved our stop for the full position to just below the reversal candle low of 6\/10.<\/p>\n\n\n\n<p>We also moved the stop up in $NVDA looking for the price action to follow through on last week&#8217;s bull-flag like breakout. We are long from $662, so we&#8217;d rather exit if the price fails to hold the $700 area.<\/p>\n\n\n\n<p>Conditions have improved for growth stocks and long exposure can be anywhere from 50-100% or more depending on position sizing. Just a reminder, positions in this report are intentionally sized small at 7-10% max of portfolio value&nbsp;to allow for 10-12 positions at once.&nbsp; If your goal is to outperform the market, position sizing should be in the 15-25% area, with anywhere from 4-7 positions if not using margin.<\/p>\n\n\n\n<p><strong>Unofficial Setups<\/strong> &#8211; For experienced traders only, no guidance is given for these setups.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>$BLNK &#8211; buy at 39.90 (swing trade)<\/li>\n\n\n\n<li>$POSH &#8211; buy at 47.01 (swing trade)<\/li>\n\n\n\n<li>$FB &#8211; buy at 333.33 (slower mover)<\/li>\n<\/ul>\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>$INMD is in chop mode after gapping above the swing high near $86. With solid numbers all around, it is a must-own for us on strength over last Friday&#8217;s high, or on weakness near the rising 10-day EMA.<\/p>\n<p>The official entry is with a buy stop.<\/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-18716","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\/18716","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=18716"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18716\/revisions"}],"predecessor-version":[{"id":18724,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18716\/revisions\/18724"}],"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=18716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=18716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=18716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}