5 Stocks, 5 Lessons, and My Hot Take On The Market

By Updated on July 22, 2023

5 Stocks, 5 Lessons, and My Hot Take On The Market Thumbnail

I’m having one of my better months of trading all year.

Chalk it up to being more disciplined.

But also more opportunities to take advantage of.

Today I want to talk to you about five stocks I’m watching, the five biggest lessons from this month, and my hot take on the market.

#1 Gorilla Technology Group (NASD: GRRR)

Lesson: Good News Is Being Priced In Quickly 

I’ve noticed lately that we’re seeing very bullish news on some stocks… but the prices are not reacting as expected.

This stock is a recent spiker, going from $2 to $7…

Last Thursday, it had bullish news when it announced a strategic relationship with British Telecom for its AI-powered smart port solution.

I played it following pre-market news (thanks to STT Breaking News) with my typical morning panic buy…

It was good for a fast 3.6% profit…

Which was solid considering how poorly the Nasdaq was performing that day.

Nonetheless, you don’t want to get overly excited if you miss the initial spike following a breaking news headline. You’ll likely get a second chance to play it.

 

#2 Applied Optoelectronics Inc. (NASD: AAOI)

Lesson: Price Action Still Isn’t Clean

This stock went from a low of $1.55 in May to a high of $11.48 in July…

Source: StocksToTrade

AAOI is trying to find some support after it’s massive breakout…

I love long-term multi-breakout charts…

But as you can see, the price action isn’t clean.

One day you think the stock will squeeze, and it does nothing…

The next, you expect it to get crushed, and it actually has a strong day.

You’ve got to be careful with these types of plays.

One way I’ve been approaching them is by trying to buy the dip on big panic sell-offs.

However, if the Nasdaq gets weak…the stock will need a catalyst to trade up.

#3 MGO Global Inc. (NASD: MGOL)

Lesson: The Market Isn’t Exact

Lionel Messi made his MLS debut last Friday…

And while there are plenty of stock angles like Adidas and Apple…the one I’ve been focused on has been MGOL.

But the stock hasn’t really done much.

Is it a delayed reaction?

Is something broken with the stock?

It’s hard to say, but we’ll know a lot more today after everyone digests his first game.

Source: StocksToTrade

#4 Knightscope Inc. (NASD: KSCP)

Lesson: Don’t Get Too Cocky 

Let’s be real…

The ticker symbol KSCP isn’t exactly a blue chip…nor will it likely ever be.

However, it has gone from $0.66 to a high of $2.34.

I don’t think the fundamentals have changed to provoke such a move higher.

And the move is likely induced by aggressive short sellers.

Source: StocksToTrade

That said, this isn’t a stock I want to be holding for too long.

What I mean by that, is I’m looking to get in and out. Hopefully for a quick profit, but if not, I will cut losses quickly.

Again, I’ll be looking to play this on huge panic sell-offs.

 

#5 PSQ Holdings (NYSE: PSQH)

Lesson: I’d Rather Get Out Too Soon Than Overstay

This stock has gone from $12.72 to as high as $35.57.

I was in pretty early on in the move…

But with a lot of action still choppy…I’ve been very quick with my exits.

Of course, in hindsight, I should have held.

But as traders, we often think about the ones we should have held and dismiss the ones we got out early on and saved a bunch of money.

For me, getting out soon has made me millions. So, the results speak for themselves.

Source: StocksToTrade

Anyways, there are a few “anti-woke” stocks starting to move, including DWAC and RUM.

If I do play them, it will be on panic sell-offs near the open.

My Hot Take

tim sykes at the Grand Canyon
© Millionaire Media, LLC

The market is now OVEREXTENDED.

That’s why we are now starting to see a lot of plays breakdown.

And that’s why I believe it’s better to be safe than to be greedy.

Try to aim for singles and doubles.

That’s what I’ve done to get some of my best results of the year thus far.

If you’d like to get more trade ideas from me it’s easy…

CLICK HERE TO GET PUT ON MY SPECIAL LIST

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Comments (1)
Author imageTimothy Sykes
Hey Everyone,

As many of you already know I grew up in a middle class family and didn't have many luxuries. But through trading I was able to change my circumstances --not just for me -- but for my parents as well. I now want to help you and thousands of other people from all around the world achieve similar results!

Which is why I've launched my Trading Challenge. I’m extremely determined to create a millionaire trader out of one my students and hopefully it will be you.

So when you get a chance make sure you check it out.

PS: Don’t forget to check out my 30 Day Bootcamp, it will teach you everything you need to know about trading.

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