Hey, Ross here:
While the news headlines are screaming about a “new bear market” thanks to Powell’s comments yesterday, take a look at today’s trade idea.
Chart of the Day
Perion Network (PERI) is an Israeli-based digital advertising firm posting tremendous numbers.
Sales are growing at over 30% per quarter and earnings growth is even higher.
The stock dipped following its February 8 earnings report, but the stock recovered almost immediately showing a strong appetite for the shares.
This is a name I haven’t heard many traders talking about, so it is somewhat off most people’s radar… which is another reason I like it.
It just broke through the clearly-defined $35 resistance level – despite Powell’s hawkish comments. That’s a buy trigger for me.
P.S. Want special trade prospects and potential market moves sent directly to your phone from me? Then just text the word ross to 74121.
Insight of the Day
The market may not be able to fight the Fed – but individual stocks certainly can.
By now, almost everyone’s heard the saying you can’t fight the Fed. Considering the sway the Fed holds over the market – one that’s only been growing stronger – and you can see why this advice makes sense.
But while the market as a whole may not be able to fight the Fed – individual stocks certainly can.
Just look at PERI that I just posted above – it actually rose even as the markets fell on Powell’s comments.
So don’t believe the sensational news headlines only designed to steal your attention. Peer beneath the surface of the market, and you’ll see that there are always fast profits to be made.
And if you want to join me in really going deep to uncover the juiciest opportunities out there – then watch my message here.
Ross Givens
Editor, Stock Surge Daily
