{"id":18736,"date":"2021-06-10T06:48:00","date_gmt":"2021-06-10T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=18736"},"modified":"2023-02-24T02:55:18","modified_gmt":"2023-02-24T07:55:18","slug":"swing-trading-stocks-061021","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-061021\/","title":{"rendered":"The Wagner Daily &#8211; Exiting $LSPD Trade"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210610LSPD.png\" alt=\"$LSPD daily\" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; June 10, 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\/watch.png\" alt=\"$todays watchlist\" title=\"\"><\/figure>\n\n\n\n<p><br \/><a id=\"positions\"><strong><em>open positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210610open.png\" alt=\"$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\/2021\/210610closed.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;Note the new stops highlighted in light pink in the open positions watchlist above.&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-31.gif\" alt=\"\" class=\"wp-image-18740\" 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-30.gif\" alt=\"\" class=\"wp-image-18738\" title=\"Anchor\"><\/figure>\n\n\n\n<p>It was a busy afternoon for the model portfolio, as we cut back exposure in stocks that failed to follow through. We were able to exit a few stocks for a small gain such as $UPST, $ZS, and $SE.&nbsp; $LSPD was sold after a false breakout for a 4% loss.&nbsp; Per yesterday&#8217;s report, we sold $LESL on the open for a -2% loss as there was no reason to stick around following news of a secondary.<\/p>\n\n\n\n<p>Despite the Nasdaq reclaiming the 20-day EMA and generating a buy signal, growth continues to struggle with a higher than normal failure rate for breakouts.<\/p>\n\n\n\n<p>$UPST formed an ugly squat after an explosive breakout and nasty selloff on 6\/4. A squat is a breakout that runs higher but reverses and closes near the breakout pivot or below and in the lower third of the day&#8217;s range. Generally speaking, if the squat day low holds for the next few days, then the price has a shot of re-breaking out in the short term.&nbsp;&nbsp;$UPST held the low for two days before selling off on Wednesday and closing below the 10-day EMA,&nbsp; a sell signal.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210610UPST.png\" alt=\"$UPST daily\" title=\"\"><\/figure>\n\n\n\n<p>Like $UPST, an explosive breakout and nasty selloff in one day.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210610DV.png\" alt=\"$DV daily\" title=\"\"><\/figure>\n\n\n\n<p>We sold $LSPD late in the day as price was closing below the low of the breakout day and breaking the 10-day EMA. No reason to stick around.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210610LSPD.png\" alt=\"$LSPD daily\" title=\"\"><\/figure>\n\n\n\n<p>Not all growth-related breakouts have failed, as $QFIN, $RBLX, $NVDA, $ASAN and a few others have worked out well.&nbsp; However, too many breakouts have failed to ignore.&nbsp;&nbsp;<\/p>\n\n\n\n<p>There are no new setups for Thursday as we are sitting tight and monitoring remaining longs $RBLX, $NVDA (with tight stop), and $DV.<\/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>Watching $STAA $HAYW $MRVI $CDNA $TUYA $SPT $BMBL<\/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>We sold $LSPD late in the day as price was closing below the low of the breakout day and breaking the 10-day EMA. No reason to stick around.<\/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-18736","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\/18736","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=18736"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18736\/revisions"}],"predecessor-version":[{"id":18744,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18736\/revisions\/18744"}],"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=18736"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=18736"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=18736"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}