Hey there, VWAPians!
This is by far the best trading I have ever seen.
But even earnings took a backseat to shorting some of the hottest stocks on earth, like Robinhood (HOOD) and Moderna (MRNA).
The craziest thing of all, though?
I did something yesterday that I rarely EVER do… In fact, I usually preach AGAINST doing it, simply because it’s so dangerous…
I shorted the Qs and lived to tell the tale, and YOU watched me do it LIVE! (If you didn’t watch me LIVE, first of all – shame on you, because everything I say is important! But really, find all my replays right here, no sweat, and catch me here at 9:30 a.m. ET each day.)
^^I look like I could use those Depends we talk about so much in the room
BTU’s Big VWAP Moment
Peabody Energy (BTU) has been on my Go-To Warlock Watchlist for some time now, because it’s the trade that just won’t quit.
We were banking BTU back in July, too
Just as a significant cross above the 1-minute VWAP that I usually trade around signals short-term buyers are in control, a significant cross above a longer-term VWAP underscores longer-term strength.
That’s not to say I’m looking to INVEST in BTU, because you know very well that I’m a day trader who fears commitment!
But I do always say, “When in doubt, zoom out” – and no matter which way you zoom out on BTU, the longer-term momentum shift is clear.
Monthly chart of BTU – courtesy of ThinkorSwim (TOS)
AMC, Other Stocks On Watch Today
Of course, as a day trader who has to act quickly, my daily Warlock Watchlist is always evolving, so the best way to know exactly what I’m watching is to WATCH ME stalk them LIVE at 9:30 a.m. ET each morning!
In fact, my (muuuch less famous) castmates and I are having a very special PRIMETIME EVENT at 7 p.m. ET this Thursday, and I’d love it if my VWAP tribe could be there! You can register for the event by clicking here, and you gotta trust me when I say we’ll be giving away some VERY cool stuff.
Otherwise, Orphazyme (ORPH) is back on watch, and the following stocks could catch my attention on a significant enough move today:
- Nio (NIO)
- eBay (EBAY)
- Wish (WISH)
- Clover Health Investments (CLOV)
- Blink Charging (BLNK)
- Hydrofarm Holdings (HYFM)
- Rocket Companies (RKT)
- Gevo Inc (GEVO)
But most notably…
Beware the UVXY
As alluded to earlier, there’s a potential caution flag waving for bulls right now, in the form of the ProShares Ultra VIX Short Term Futures ETF (UVXY).
In a nutshell, when UVXY starts going higher – WATCH OUT.
UVXY shares were literally DESIGNED to trend lower, so when I see this exchange-traded fund (ETF) doing things nature did not intend, I know the bears are in control.
If we see this ETF starting to NOT suck, consider that a warning sign, especially after we made money shorting QQQ yesterday.
The best way to navigate this chop?
Stay nimble in your day trades – and go into everything with a clear exit strategy in place.
And remember – “nothing” is a respectable position, if it feels too risky for you out there.
Keep an eye out for UVXY, and be safe.
Kenny “The Warlock” Glick
3 responses to “Stocks to Watch Now; Plus, BOLO for This Market Warning Sign”
August 11 2021