Hey traders, it’s Bryce here.
It’s a party in the U.S.A. baby!
In contrast, all around the world, we’re seeing economic struggle …
- Persistent inflation and recessions in Europe.
- A crashing stock market in China.
- Continued strife in the Middle East and Eastern Europe.
And if you remember, analysts were worried in 2022 and 2023 about a full-blown U.S. recession.
But every month the economy managed to surge forward.
Give yourself a big round of applause. It’s all because of the little guys like you and me:
- Consumer spending is strong.
- The job market is strong.
- Demand for market assets is strong.
Look at this chart of the S&P 500 ETF Trust (NYSE: SPY) so far in 2024, it made new all-time highs yesterday:
SPY chart multi-month, 1-day candles Source: StocksToTrade
When the stock market is hot, there are more opportunities for small-account traders to profit.
But we have to pay attention to the right setups.
Even in a hot market, it’s possible to lose money by focusing on the wrong setups. The biggest runners give us more room for error.
These are the best stocks in the market right now:
#1 Watch For Monday
There are a lot of multiday runners in the market right now thanks to the overall bullish momentum.
I’m specifically watching Adial Pharmaceuticals Inc. (NASDAQ: ADIL).
I know it’s a penny stock. We’re not investing in the business. We’re trading the shares.
Penny stocks can spike +100% intraday. And as traders, we can take advantage of that price action if we’re wise to the overall framework.
Yes, the hottest stocks in the market can follow a general framework.
But trading them is easier said than done. First, we have to find the stock …
I like ADIL because:
- It’s in the biotech sector.
- Biotech penny stocks have been hot all year. This sector continues to give us spikers.
- It spiked on February 28 after it announced a new patent from the U.S. Patent and Trademark Office.
- That’s bonafide government contract news. The hype could spike it further.
- The float is only 959k shares.
- A low float will help the price spike higher when demand increases. Like when a company is awarded a new patent …
Here’s a chart of the spike so far:
ADIL chart multi-day, 5-minute candles Source: StocksToTrade
Notice how quickly the price spiked after the news was announced on February 28. That first green bubble shows the news.
If only there were a way to get eyes on these stocks right when they announce news …
Oh wait … there is.
Breaking News
The StocksToTrade chart above is part of a larger trading system that offers a Breaking News service.
It’s run by two former Wall Street players. Here’s the concept:
In case you didn’t know, Wall Street pays for early market news. It’s been happening for years. By the time you read about company news on a platform like Yahoo Finance or CNBC, you’re probably a day late. At least.
My mentor, Tim Sykes, had enough.
And he personally helped create the Breaking News system to help give small-account traders an edge.
Here’s a trade that Sykes made last week using Breaking News, starting stake of $7,470:
Source: Profit.ly
He even admits that he missed the earlier move lol. There’s so much opportunity in this market.
Use Breaking News to find the next hottest setup.
How To Trade These Plays
We’re using technical analysis like support and resistance.
Let’s look at the chart of ADIL again. There are noticeable lines of support and resistance on the stock:
ADIL chart multi-day, 5-minute candles Source: StocksToTrade
Volatile stocks move between these lines.
We can’t always tell whether the price will bounce off or break through the level. But that’s where our trading patterns come in handy.
Every stock looks a little different. But remember, they can follow the same general framework. The pattern that we use to trade the stock depends where it is within the framework.
It takes some practice, but this isn’t rocket science. Too many traders try to overcomplicate this process.
Join the next trading livestream to see how it’s done.
That’s how I grew my account past $1 million in trading profits*. I watched other professionals do it live.
Monkey see, monkey do. You know?
Good luck next week!
Cheers,
Bryce Tuohey
This “Loophole” is So Powerful
There’s a renegade day trader who discovered a powerful “weekend loophole” in the stock market.
It allows him to place trades on Friday afternoon…
And open up his laptop on Monday to potential green.
He’s used this “loophole” to make $8,780, $9,177, and even $69,962 all over the weekend.
And he claims with the right amount of hard work and dedication, ANYONE can learn how to use it too…