It’s kinda quiet out there…
I know the stock market has had an exceptional few years, so it’s easy to forget what’s “normal.” But traditionally, August is the slowest month in the stock market.
So if things slow down a bit for the next few weeks, please don’t panic.
There are always trades. There are always setups. It’s a trader’s duty to be more selective and check all the boxes on every trade. It’s not about trading every day!
Here’s what I’m watching today…
Last night, Erytech Pharma SA (NASDAQ: ERYP) had a big spike. It’s a bit higher float, but it was spiking on leukemia news. Here’s the problem…
The last 16 hours have been insane for this stock. It went from $4 to $22 then went down to the $10s after hours.
I feel like that movement is too wonky for me to give a real read on the stock. I’d suggest waiting — look at it as a potential afternoon VWAP trade. Then again, if this is the best one you’ve got, maybe it’s a day to do something else.
No volume. Broken chart. I’m not interested in Meta Materials Inc. (NASDAQ: MMAT).
A follower asked about Annovis Bio Inc. (NYSEAMERICAN: ANVS) as a dip buy. Well, if a stock goes from the $100s to the $40s, there’s usually a reason. I wouldn’t look at this one as some major bargain.
It pains me to say this, but NanoVibronix Inc. (NASDAQ: NAOV) is probably my top watch. Why the pain? Because I really don’t think it’s that great. Then again, it’s lower float, and it’s held up all week. As of the premarket, I’ll look for red-to-green moves or breaks of whole-dollar, half-dollar, or even quarter-dollar levels.
I talked about Advanced Micro Devices, Inc. (NASDAQ: AMD) in my NO-COST webinar last night. If you missed it, don’t worry — I’ll post the replay soon. AMD is my top “real” stock to watch. It’s an earnings winner, and it has swing trade potential.
A follower asked about ContextLogic Inc. (NASDAQ: WISH). Keep wishin’. This is a twitter pump, and it’s dead.
Another follower asked about Palantir Technologies Inc. (NYSE: PLTR) … I actually do believe in this stock long-term, and it’s holding support. But it’s not doing much right now.
Yesterday, I called Cocrystal Pharma Inc. (NASDAQ: COCP) the next Biondvax Pharmaceuticals Ltd. (NASDAQ: BVXV). Actually, it ended up being even worse! I’m not a fan of this one.
How about Amazon.com, Inc. (NASDAQ: AMZN)? Yep, love it. But know that it’s not gonna be a fast mover. Keep an eye out for red-to-greens…
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