Hey, Ross here:
It’s the last trading day of the week. Don’t be fooled by all the doom-and-gloom in the news – check out the trade idea I have for you today.
Chart of the Day
Oil and gas royalty trusts like Permian Basin Royalty Trust (PBT) are the top-performing group in the stock market.
These holding companies, instead of drilling or performing midstream operations, simply hold royalty interests in energy properties. They get paid on every drop of oil and gas that comes out of the ground with no financial risk.
We bought this stock in my Alpha Stocks service on a breakout back in May and booked quick profits on the move higher (learn more about Alpha Stocks here).
Now, the stock is setting up in a similar formation. Watch for a strong move through the $22 area to trigger the next leg higher.
Insight of the Day
The media amplifies both greed and fear for attention. Don’t fall for this distorted version of reality.
The main catalyst for yesterday’s drop in the stock market was a larger-than-expected drop in retail sales numbers. This triggered the usual recession fears – especially coupled with the Fed’s hawkish statement the day before.
Of course, the media loved it. Headlines everywhere are screaming about the “800-point drop in the Dow” and the “worst day in three months” – ignoring the fact that the index is still at near the highest levels in more than three months.
If you let the mainstream media whipsaw your emotions around – you’re almost guaranteed to lose money. If there’s a rally tomorrow, you can bet the headlines will all suddenly have the completely opposite tone.
The reality is that, despite how the market has been this year, there are still plenty of opportunities to go around. Today’s idea was just one of the many out there – you just have to know where to look.
And a prime example of where to look for opportunities? Following the “big money” flows. Click here to learn more.
Embrace the surge,
Editor, Stock Surge Daily