Hey, Ross here:
And let’s start the day with another actionable trading idea.
Chart of the Day
Talk about a fall from grace…
After rallying 460% from May to August, the high-tech automotive finance company Upstart (UPST) fell 57% in a week!
The stock was murdered – and the bloodbath is only worsening this week.
Yet, even at half off, investors are not enticed to buy. UPST cannot rally – a clear sign that institutions have no interest in the stock.
This is Stage 3 action, and I would be shocked if the stock did not continue lower in a prolonged Stage 4 decline.
Insight of the Day
I expect to see a lot of “false starts” in the coming weeks
Indexes closed higher yesterday – with the vast majority of sectors also ending higher.
Plus, the S&P 500 and Nasdaq also managed to squeak out a higher weekly close last week.
I don’t think this is a sign of the second rally (yet).
I expect to see a lot of “false starts” in the coming weeks as the bulls and bears battle it out.
When I see clear signs that a new rally is beginning – you’ll be the first to know.
Until then, I believe the strategy that’s best suited to this stop-start market is my “insider” strategy that could allow you to exploit price moves that are almost independent from the broader market.
And I’m going LIVE right now to explain this strategy in person…
And I’ll see you inside.
Embrace the surge,
Editor, Stock Surge Daily