Hey there, VWAPians!
I go by many names.
The Abraham of Assets. The Cain of Cash. The David of Duckets. The Elijah of Earnings.
But they don’t call me a wizard. I have a real evil streak, so they call me the Warlock.
I’ve transcended time and space with these markets.
Every word that comes out of my mouth is literally a learning experience.
Start your day with MY word, with MY lessons, EVERY DAY from 8:30 to 9:30 a.m. ET right here on Money Morning LIVE.
That’s where I go over the stocks that put that mischievous twinkle in my eye before I teleport to my Warlock’s World and jam out VWAP trades from 9:30 to 11 a.m. ET.
You wanna know a secret? You don’t even need VWAP.
In fact, you don’t need ANYTHING on your charts to trade this market.
Well, gee, Warlock, then what do you need?
ME and PRICE. PRICE and ME.
And I’m taking this week to PROVE that to you. Look into my eyes.
Do you feel it?
I’ll say it loud for the guy in the back:
Price! Price! PRICE!!!
It’s not Volume-Weighted Average Popcorn. Or Volume-Weighted Average Pussycats.
It’s Volume-Weighted Average PRICE!
So Monday I did the unthinkable. I traded ALL DAY without my VWAP indicator on my chart.
It. Was. AMAZING.
These trades STILL WORK because I am the GREATEST trader in the universe.
It’s not called VWAP’s World. It’s Warlock’s World.
It’s about ME. I’M THE WARLOCK.
What I’m saying is that YOU benefit the most from ME. From my experience. From my incomparable wit. From my unnerving preternatural ability to trade this market.
From your humility, I can hear my wife say.
If you were with me in my Warlock’s World on Monday, you saw how I used just price to cash in on SICK trades on Longeveron (LGVN) and the ETFMG Alternative Harvest ETF (MJ).
Before I get to those trades, I gotta finish this thought.
What the Warlock’s World is about is information. It’s about sitting next to someone who’s been trading for 30 years and has seen every kind of trading environment — and lives to tell the tale,.
That’s why I’ve been trying to stress that I’m here to TEACH you. To give you the benefit of my experience.
And I will. That’s why I say if you don’t know me, then get to know me.
Cause if I can do these things with just price, imagine what YOU can do with both my knowledge AND VWAP.
I could have picked from about 15 trades on Monday to talk about, but these two stood out to me.
Why did MJ stand out? Capitulation.
Capitulation is when everybody gives up, and then the stock comes back.
It sometimes looks like a “V”, so it can be referred to as the “V Bottom.”
MJ had this set-up today:
MJ had a V-Bottom on Dec 6
When a stock that capitulates breaks above the V-top, that’s a reason to buy.
MJ broke the $11.25 V-top and ran to $11.55. It’s not a huge trade, but that’s not the point.
This trade was made possible by PRICE and KNOWLEDGE.
Your charts give you the price. The Warlock gives you the knowledge.
Now, onto LGVN. This stock had a 9:30 a.m. ET high of $18.88. I recommend for any stock that you’re interested in, to mark that opening candle high on your chart.
The stock never broke the opening high and was in a downtrend for an hour and a half.
Then LGVN showed me a triple top at $17.86 that it was finally able to push through. There’s your first reason to believe right there.
But I like seeing if a stock can get something going above its 9:30 a.m. high, and oh boy, LGVN did just that.
LGVN broke its opening high on Monday
The opening high can be an extreme bullish pivot point, and stocks breaking above this level have the potential to move significantly higher.
This is EXACTLY what happened with LGVN.
Just like the MJ trade, this DUNK on LGVN was made possible by PRICE and KNOWLEDGE.
PRICE and ME. ME and PRICE.
Get to know me. Get to know my Warlock’s World. Cuz if this is what we can do with just price, then THINK about all we can accomplish together with VWAP.
That’s all for now, VWAPians. Let’s CRUSH it this week!
Best of luck in your trading!
Kenny “The Warlock” Glick
December 07 2021