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Earlier this week, I told you to get your fishing rod because we’re going bottom fishing!
Well, our bottom fishing has paid off very handsomely.
Just a quick refresher, “bottom fishing” is when we buy assets that have experienced a steep decline.
In this case, we know that the Russia-Ukraine war has caused a significant selloff in the markets.
And we beat the S&P 500’s annual 10% return multiple times.
Three Different Ways We Beat the S&P 500
I have recommended so many stocks we can bottom fish this week.
Let’s quickly review 3 of them.
First, Corteva Inc (CTVA).
Take a look at this chart…
Look how fast it shot up in just a few days!
Had you gotten in at the bottom when we first started bottom fishing… you could have made an easy 12% gain.
But that’s not the only double-digit gain you could’ve made this past week!
Freeport-McMoRan Inc (FCX) shot up 12.45% as well…
And Devon Energy Corp (DVN) moved up 14%.
This is the power of bottom fishing.
All we’re doing is positioning ourselves to profit from predictable price action.
Technical analysis showed us that these bottoms are potential support levels, so we put some money in to profit from a turnaround.
Taking a quick 12% gain here… another easy 14% gain there… and reinvesting our profits.
That’s how Stock Navigators quickly grow our portfolios.
Remember, these are just 3 of the bottom fishing stocks I recommended this week.
It’s Time to Bottom Fish the Metaverse
It seems like Facebook has been having trouble ever since they changed their name to Meta Platforms Inc (FB).
Their chart looks terrible right now…
While other investors may see a bearish stock…
We Stock Navigators see a perfect bottom fishing opportunity.
Notice the strong support we’re seeing at the $200 level.
FB has consistently remained above support levels - a very good sign.
Combined with the fact that the 200-day moving average is sitting at $321.67, you’ve got yourself a very big bottom fish!
There are other industry-leading companies that are currently prime bottom fish material - click here now to get all my latest stock recommendations.
The Market is Reversing to the Upside
It’s every buy-and-hold investor’s favorite news - the market is moving back up.
All my charts are showing me signs that strongly suggest we’re moving into bullish territory.
For example, let’s take a look at the S&P 500.
Although the S&P 500 has managed to consistently stay above the $4,100 range… it hasn’t been able to break the downward trendline.
Which means we’ve been seeing higher lows… but not higher highs.
This all changed very recently.
The S&P 500 broke past its downward trendline and has begun recording higher highs.
Now, we’re not out of the woods just yet but I’m seeing similar patterns all over the market.
Including the Russell 2000 Index (RTY) which moved above its 50-day moving average.
This is a very strong sign that speculative investors are moving back into the market.
Speculation moves the stock market higher and higher.
I’m seeing bullish signs in every corner of the market, from stocks to crypto.
I’ll be keeping you updated with all the latest, most-urgent news.
Stock Navigators has one mission - to help people improve their lives via trading. And it's all made possibly by our team of stay-at-home day traders who provide the most up-to-date analysis every single day. With over twenty years of combined trading experience, Stock Navigators helps you stay on top of the market.
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