Hey, Ross here:
And let’s start off with yet another actionable trade idea.
Chart of the Day
Biotech stocks can make huge moves, and this one is no exception.
TGTX more than doubled in a month and is showing no signs of slowing down.
Slower-trending, blue chip stocks tend to ride their 50-day moving average (red line on chart) on the way up.
Stronger stocks tend to hold their 21-day moving average (blue line).
But with high-flying honey badger stocks like TGTX, you are lucky to get a pullback to the 10-day moving average (yellow line).
TGTX touched its 10-day exponential moving average on Friday, making the first real pullback buying opportunity since the initial surge.
Currently, it’s sitting slightly below its 10-day moving average.
I would consider buying here with an 8-10% stop loss.
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
While most people are asleep, a select few are winning.
CNBC doesn’t have the guts to say it – so I will.
The bear market is OVER.
Sure, the market hasn’t been going anywhere – stuck in a tight range for the past 6 weeks.
The current market is best described as “sleepy” – lethargically stuck in a tight range and going nowhere fast.
The sad part is, that also describes the mentality of most traders.
When the market is hot – like it was in 2021 – they chase after “hot stocks” like a furious mob (and usually get burned).
But when the market is going sideways – like it is now – they don’t know what to do (and end up missing out on opportunities).
It’s sad to watch, really.
But you don’t have to be one of them.
Because even while most traders are throwing up their hands in frustration crying about how the market isn’t going anywhere…
A select group of traders could be sitting on open gains of 62.5%… 105.2%… 214.9% – and even 1,139.5%…
All thanks to a little-known strategy 99% of traders have no clue even exists.
And I’m going LIVE later today at 12 p.m. Eastern to give what could be my FINAL presentation on how to use this strategy for yourself.
So if you still want to make money in this sleepy market…
This could be your last chance.
I look forward to seeing you there.
Embrace the surge,
Editor, Stock Surge Daily