Hey, Ross here:
I said in yesterday’s newsletter that there was a higher chance of an upside surprise from Powell’s post-Fed meeting press conference than a downside one.
So far, I’m right…
Because as today’s chart shows – the market is still hungry for risk.
Chart of the Day
This is Bank of America’s global survey of fund managers’ – aka institutional investors’ – risk appetite, overlaid with the S&P 500’s movement.
As you can see, their risk appetite is the highest it’s been in nearly three years…
And every time they’ve exhibited such high risk appetite, markets have subsequently risen strongly.
Remember, unlike retail traders, these fund managers have the actual firepower to move markets.
And after yesterday’s positive reaction to Powell’s press conference – where he basically reconfirmed that three rate cuts were on the table for this year – their risk appetite is likely only to increase.
And that’s something we can take advantage of.
Insight of the Day
Just because the market mood is “risk on” doesn’t mean you can be sloppy in your positioning.
On the surface, a “risk on”mood looks like it lifts the entire market up.
But look deeper, and you’ll see that certain sectors – and certain stocks within those sectors – benefit a LOT more from this higher risk appetite.
If you’re content with average returns, don’t worry about it.
But if you want to achieve superperformance, you need to be precise in your positioning…
Which is why later today at 12 p.m. Eastern…
I’m going LIVE for a masterclass that will allow you to position yourself in the stocks that could benefit the most from this heightened “risk on” mood…
So that while everybody’s doing good – you could do great.
Just click here to secure your spot in my masterclass before spots fill out…
And watch out for the login details in your inbox in a bit.
I’ll see you soon.
Embrace the surge,
Ross Givens
Editor, Stock Surge Daily