I could talk about our third earnings reversal trade setup this week in BBBY.
But I’ve talked about earnings reversals two days in a row now.
To mix it up a little, I’m going to highlight one of our own VWAPians.
Now, I just took a screenshot of this straight from chat yesterday, because I get called a lot of things… but we won’t go there.
Why was Michele so elated yesterday?
I’m going to show you…
But suffice it to say, Michele has become a true VWAPian.
That, my friends, is the goal here. I want each and every one of you to learn the ways of the VWAP.
To Become One with the VWAP.
In the end, what we are really trying to do here, is build a community, dare I say Army, of VWAPians.
The goal is simple – share knowledge and trade ideas – learn and grow individually, and as a group.
To do that, we must all admit that we know nothing.
We do not predict the market, and we don’t listen to the analysts or the news…
We simply do… what the VWAP tells us.
But it all starts with tuning in LIVE every day and absorbing as much as you can.
And second… read and watch everything on my site. There’s a lot of information there… along with replays of previous days LIVE shows.
Go! Be a sponge. Absorb!
WHO’S YOUR DADDY
I am the Godfather of Day Trading, the Lord of VWAP…
I am The Warlock…
And to some of you… I am “daddy.”
Daddy VWAP, if you will.
All jokes aside… This is the real reason Michele is in the spotlight today.
I was going about the day in normal fashion, talking about the potential setups, riffing on the analysts (probably crapped on Goldman in there somewhere)…
In the middle of talking about how worthless call spreads have been for me, I noticed a comment in the chat.
Michele pointed out GROM…
This is one of those stocks that’s been, for lack of a better term, an “insane name.”
Just look at the daily chart and you’ll see why VWAPian day traders have this on their radar.
It was a MOVER the day before – from $1.70 to $6.70 in one day.
When a stock moves like that, you keep an eye on it… ’nuff said.
When I pulled up the intraday chart, here’s what I saw.
Michele pointed out a good one here
We have a true VWAPian here…
After a move up in the morning, the stock pulled back and made a pretty ugly move down below VWAP.
At this point the longs are out… you don’t stay long a stock that breaks below VWAP.
We got some capitulation down there, followed by a move back to VWAP, and one last pull back.
GROM then broke back above the 1-minute VWAP… and made a move to hit a new high on the day.
It’s a beautiful thing
That makes it even more beautiful.
And makes me a proud papa.
This is exactly what I want from our chatroom.
Now let’s get to it…
Join me LIVE at 9:30 a.m. ET for another great day of trading.
It’s going to be a fun one as always… And maybe YOU’LL be the next Michele.
Kenny “The Warlock” Glick
October 01 2021