“When market bounces happen in this climate, they’ll happen fast.”
Editor’s Note: The indexes had one of their wildest days in history on Monday.
And while the short-term pain is real, big market dips have always lead to huge buy opportunities – if you’re willing to get in when others are fearful.
Today at 2 p.m., our Lead Fundamental Tactician Karim Rahemtulla is going live with a Gold Industry CEO.
Learn where gold is headed and how you can invest in this safe-haven asset.
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– Ryan Fitzwater, Publisher
Yesterday was one of the craziest days I’ve seen in my almost 20 years of trading.
In the span of just 2 hours, the S&P declined 4.7%, rallied 8.4%, plunged 5.45%, bounced 3.1%, and dropped 1.5%.
Insane.
And while the overall sentiment is bad, the truth is we’re still way up off the overall lows.
Which is why I’m looking for a retraceable bounce this week.
Not sure how many of you remember trading COVID, but this feels similar in many ways.
Back in 2020, when the COVID bounce came, it was fast and furious.
And after looking over hundreds of charts, there’s one stock I’m putting on my radar for if/when another bounce happens.
That stock is Apple (AAPL).
As you’ll see in the chart above, AAPL is hitting $181 at the time of this writing.
I would love to see a bullish headline out of China for AAPL, but I know if that happens, the stock is going to take off quickly and there will no chance to get positioned.
So timing will be key.
Which is why I’m scaling into AAPL throughout this week.
Action Plan: If/when a bounce happens, it will come fast and furious, and Apple is one of the stocks on my watchlist.
I started scaling into AAPL yesterday, and I’ll be looking to buy a lot more this week.
To see exactly how I’m trading it, I invite you to join me in Daily Profits Live. Last week I closed an 83% winner on TMUS in 1 trading day.