Hey, Ross here:
And here’s what I got for you today.
Chart of the Day
Viking Therapeutics (VKTX) is a high-flying biotech stock.
Just as we have seen with other high relative strength names, it is holding above its 10-day moving average in a clear display of power.
I issued an official buy recommendation on this stock to my Stealth Trades members on January 6 (find out more about Stealth Trades here).
Since it’s approaching previous highs, we closed out half the position for a 13% gain on the stock and 90% on the call options.
If VKTX can get into new high ground above $10 a share, we could see another strong wave higher.
Insight of the Day
Everyone loves to look at the “big picture”, but many times it’s the “small picture” that’s worth paying attention to.
Case in point – the current “big picture” news is all about the slide in stock market on the back of data showing weakened consumer spending coupled with a few Fed officials saying that interest rates should be hiked to over 5% as soon as possible.
But the “small picture” is that many less-popular stocks are seeing some healthy recent price action. Of course, you won’t hear much about it on the news – these no-name stocks simply don’t have the brand power to attract the clicks.
That’s why I keep bringing you these trade ideas on stocks most have never heard of – to show you what’s possible.
And in a market like this one, where it’s almost like there’s a “stealth” bull market happening unnoticed in many stocks – this strategy is perfect.
Embrace the surge,
Ross Givens
Editor, Stock Surge Daily
