Hey Trader, Today, we have another round of trading news and information from our top analysts here at Traders Agency. And of course, our Trade of the Day. |
Stocks: US stocks spent most of the day in the red before staging a mild recovery into the close, although the major indexes continue to close in on the June lows. Bonds: US bonds fell sharply, with the 10-year Treasury yield rising to 3.71%.Commodities: Crude oil was up 0.8% to $83.56/barrel, while gold was up a mild 0.4%.Digital Currencies: BTC futures are up nicely today, outperforming stocks, while ETH futures continue to slide. Data Check: Tomorrow morning, look for US manufacturing and services PMI readings. Then, Fed Chairman Jerome Powell and other Fed officials will speak at 2 p.m. ET. Before we get to our Trade of the Day, head on over to the Traders Agency YouTube channel for breaking market news, live trading sessions, educational videos and much, much more! Click here now to subscribe! |
Ritchie Brothers Auctioneers Inc.
Right now, the US and other economies are on the verge of either continuing to expand or suffering a recession.
To capitalize on this, I suggest what I call “heads-you-win, tails-you-win” companies.
These are companies that profit from both economic growth as well as contractions. And Ritchie Brothers Auctioneers (RBA) fits into this category very well.
Based in Canada, the company got its start having to auction off its inventory to stay in business, but it is now a leading auction company of industrial and other equipment.
Good economy… good business. Sliding economy… good business. This sets the company and the stock up as a winner for either economic direction.
And with more uncertainty in the US economy going forward, it makes for a great Trade of the Day. |
Ritchie Brothers Auctioneers Inc. Price -- Source: TradingView |
With the current price at $63.20, RBA is a buy under $66.30 with a near-term target of $72.73 and even more beyond that. And for safety, consider a stop at $60.34. Now, on to the best of Traders Agency… |
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Looking for Lower Prices in ES Yesterday, the Federal Reserve raised its target rate range by another 0.75%… This was the third rate hike of this magnitude this year, and it looks like rates will continue to rise until inflation is under control. This tightening of monetary policy is hitting the markets hard again this week, and that’s keeping the S&P 500 (ES) futures market stuck in its down trend. So today, let’s look at the ES and see where we’re expecting it to move next… |
Video Update: Looking for New Lows in the Market? I thought the low was in back in June, but that doesn’t appear to be the case anymore. After a crippling CPI report showing that inflation has not slowed and with an aggressive Federal Reserve desperate to reverse the effects of its money printing, investors are dumping stocks. It now looks like the market is headed for new lows… |
Recommended Link: Famous hedge fund manager: “This is the future of investing” In 2017, Ross Givens was one of the only analysts that saw a future in Ethereum… When it was $400. If you had taken his advice back then you could’ve cashed in big as Ethereum climbed over $4,500. And today, he’s issuing the biggest call of his career — Click here to watch now. |
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How Well Do You Know Your Trading Strategy? Gauging one's success as a trader can be tricky. You've jumped into the market, made some profitable trades and you're feeling pretty good about your strategy. But how do you actually gauge your success in an ever-changing market? Well, it's not quite as simple as saying you're making money and not losing it. That's because every trader loses money at some point. Are you looking at the last couple of trades you made? Are you analyzing all of your transactions from the past year? It's easy to over or under analyze your portfolio when trying to figure out if your strategy works. For me, there's one crucial rule to follow when tracking your trading record. You don't have to look at every trade you've made in the long term. There's a sweet spot that can help you determine if you're making the right decisions in the market. See what I have to say about gauging your success as a trader.
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Weekly Update: How We're Trading a Rising Rate Market Yesterday, the Federal Reserve raised its target rate range by another 0.75%... This was the third rate hike of this magnitude this year, and it looks like rates will continue to rise until inflation is under control. The market was largely expecting this move by the Fed. But nonetheless, markets have sold off sharply since the announcement yesterday. However, this volatility is creating opportunities for prepared traders... For all of our detailed analysis and how we're managing our trades in this wild market, join the War Room today! |
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Thank you for reading Beyond The Trade! Look for much, much more every day the markets are open. You’ll get further updates on all that is going on to make your job as a trader all the more profitable and better informed. I’ll also continue to provide updates on the stock ideas I bring to you in Beyond The Trade. To provide feedback, suggestions and questions, feel free to email me directly at neilgeorge@tradersagency.com. Your friends, Beyond The Trade |
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