{"id":18242,"date":"2021-09-08T06:48:00","date_gmt":"2021-09-08T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=18242"},"modified":"2023-02-21T05:17:46","modified_gmt":"2023-02-21T10:17:46","slug":"swing-trading-stocks-090821","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-090821\/","title":{"rendered":"The Wagner Daily -$SNAP closed higher despite the weak tape\u00a0\u00a0"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210908SNAP.png\" alt=\"$SNAP DAILY\" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; September 8, 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&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 id=\"watchlist\"><strong><em>today&#8217;s watchlist (potential trade entries):<\/em><\/strong><\/a><\/p>\n\n\n\n<p><img decoding=\"async\" alt=\"$todays watchlist\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210908watch.png\" title=\"\"><br \/><br \/><a id=\"positions\"><strong><em>open positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210908open.png\" alt=\"$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\/210908closed.png\" alt=\"$closed positions\" title=\"\"><\/figure>\n\n\n\n<p><strong>po<\/strong><strong>sition notes:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>$CRWD and $SNAP orders triggered.<\/li>\n\n\n\n<li>Per intraday alert, bought $DOCU at $300.<\/li>\n\n\n\n<li>Stopped out of the first $DOCU entry along with the second half of $DLO.<\/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<p>Market averages pulled back on Tuesday in the -0.4% to -1% range, with the exception of $QQQ, which closed just above break-even.<\/p>\n\n\n\n<p>In the short term, we could see more chop from market averages to allow&nbsp;moving averages to catch up.<\/p>\n\n\n\n<p>$CRWD and $SNAP buy orders triggered in the model portfolio. Note that we stopped out of the remaining half position in $DLO just below breakeven (very small loss). The first entry in $DOCU also triggered its stop.<\/p>\n\n\n\n<p>Ugly day in $DOCU, closing below the 50ma on volume. We still have a 3% position from our entry near $300 on Tuesday.&nbsp;&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210908DOCU.png\" alt=\"$DOCU DAILY\" title=\"\"><\/figure>\n\n\n\n<p>$CRWD buy limit order triggered buy did not hold up well, as it closed below the 10-day EMA on a pick up in volume. Note the tight stop.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210908CRWD.png\" alt=\"$CRWD DAILY\" title=\"\"><\/figure>\n\n\n\n<p>$SNAP closed higher on a pick up in volume despite the weak tape.&nbsp;&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210908SNAP.png\" alt=\"$SNAP DAILY\" title=\"\"><\/figure>\n\n\n\n<p>There is one new official setup for Wednesday.<\/p>\n\n\n\n<p>We have a buy stop in $RLBX over Tuesday&#8217;s high looking for the price action to follow through to the upside after undercutting and reclaiming the 50-day MA last week.<\/p>\n\n\n\n<p>The protective stop is just below last week&#8217;s low.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210908RBLX3.png\" alt=\"$RBLX DAILY\" title=\"\"><\/figure>\n\n\n\n<p>$SQ is not an official setup but is potentially in play for a starter entry over the two-day high.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210908SQ.png\" alt=\"$SQ 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>$SQ &#8211; buy at 271.00<\/li>\n\n\n\n<li>$ATKR &#8211; buy at 92.06&nbsp;<\/li>\n\n\n\n<li>$AMD &#8211; buy at 110-111.37&nbsp;<\/li>\n\n\n\n<li>Others to watch:&nbsp; $FIGS $COIN $RRR $HCA&nbsp; $BASE $BYRN $PLXW&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>See you in the Live Trading 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.&nbsp; However, if your goal is to maximize returns, taking 18-25% positions is the way to go.&nbsp; &nbsp;If trading in a non-margin account, this will limit the portfolio to 4-5 positions.&nbsp; 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.&nbsp; &nbsp;For example, a 20% position in a 100k account with a 6% stop loss would result in a $1,200 loss (1.2%).&nbsp;<\/p>\n\n\n\n<p>Click on the link below to view this week&#8217;s watchlist in google sheets.<\/p>\n\n\n\n<p>This list is a good starting point for monitoring the health of the market for those who have limited time.<\/p>\n\n\n\n<figure class=\"wp-block-embed\"><div class=\"wp-block-embed__wrapper\">\nhttps:\/\/docs.google.com\/spreadsheets\/d\/1rc2qIXer0HMbVutBrv4mfDgunJBcZX6_C5LiCnq-4iU\/edit?usp=sharing\n<\/div><\/figure>\n\n\n\n<p><br \/>DISCLAIMER: Past results are not necessarily indicative of future results. There is a high degree of risk for substantial losses in trading securities. All data and material on this website and\/or electronically delivered to individuals is for informational purposes only, and should not be construed as an offer or solicitation of an offer to buy or sell any securities. By using\u00c2&nbsp;the\u00c2&nbsp;content on this document, user understands and agrees to&nbsp;&nbsp;<a href=\"http:\/\/www.morpheustrading.com\/site\/disclaimer.aspx\" target=\"_blank\" rel=\"noreferrer noopener\">full terms of this disclaimer<\/a>.<\/p>\n\n\n\n<p><br \/>\u00c2\u00a92002-2021 Morpheus Trading, LLC<br \/>Reproduction without permission is strictly prohibited.<\/p>\n\n\n\n<p class=\"has-light-green-cyan-background-color has-background\"><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Start my Wagner Daily membership now<\/a><\/strong> to start receiving winning Morpheus stock trade signals, including a stock portfolio you can easily follow. <strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">The Wagner Daily PRO<\/a> <\/strong>includes <strong>live swing trader room<\/strong> for daily, real-time trade ideas and powerful stock trading education. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>$SNAP closed higher on a pick up in volume despite the weak tape.\u00a0\u00a0<\/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-18242","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\/18242","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=18242"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18242\/revisions"}],"predecessor-version":[{"id":18248,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18242\/revisions\/18248"}],"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=18242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=18242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=18242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}