Hey, Ross here:
And here’s yet another actionable trade idea to kick off the trading day.
Chart of the Day
The LionsGate movie company looks very appealing here. The stock has already doubled this year, and it looks like it wants to run further.
This was a $20 stock two years ago, so there is plenty of upside still.
The 200-day moving average has turned up and is now trending higher. We also have our shorter-term 10, 21 and 50-day moving averages tightening up to provide support in what I call a “launchpad” setup.
If LGF.A breaks above the trendline I’ve drawn on the chart, I will consider buying. My stop loss would be at $10.30.
P.S. Would you like special trade prospects and potential market moves sent directly to your phone? Text the word ross to 74121.
Insight of the Day
When the whole debt ceiling saga is resolved, the market will have strong incentive to move higher.
Yesterday morning, I said that only the politicians could screw up this new bull market.
I must have jinxed it, because sure enough, the market sank right after over debt ceiling concerns.
It’s been quite refreshing to not have to see the Fed dominating the financial headlines – but I’m getting quite tired of this whole thing.
Because the truth is, America will NOT default…
And once this whole thing blows over (like it has literally every year), the market will finally be rid of the anchor that’s been weighing it down…
Plus, with no more Fed rate hikes likely, that would create VERY strong incentive for the market to race higher.
This means – with the debt ceiling still weighing down the markets – NOW is the time to position yourself in high-quality stocks…
Because if you wait until that anchor is inevitably released – you’ll likely already have missed out on some big gains.
So click here to get my #1 method for identifying these high-potential stocks – a method that I learned deep in the belly of the Wall Street machine.
For a very short time only, I’m giving it away for just 99 cents. It might be the best dollar you’ve ever spent.
Embrace the surge,
Editor, Stock Surge Daily