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I don't know about you, but I for one am ready to get out of my house this summer.
Stores are opened, concerts are back on, restaurants are getting busy... it's great for my social calendar - but even better for my portfolio. There's a lot of money to be made this summer, and I'm going to help you do just that.
To find these standout opportunities, I've done more than look at the industries opening back up. Every trader will be doing that.
I have an edge. I've sifted through my favorite technical indicators and filtered the top "reopening" stocks into the best-of-the-best "get out there" plays to make today.
That gave me this list of the six best profit opportunities this summer's "get out there" vibe is giving us now. Let's dive in...
Your "Get Out There" Stock Buy List
First up on my list is an airline company that's showing a lot of promise. I can literally see it riding the reopening wave as the pent-up demand in travel reaches new heights this summer. I'm talking about none other than Southwest Airlines Co. (NYSE: LUV). Shares of LUV have been trading in a tightening range for the last three months as the airline sector prepares for what's likely to be a strong second half of the year. LUV's pricing and destinations put it at the top of the list for recreational fliers, which should be the first group to hit the skies. I'm adding this stock to my portfolio at $60 with a price target of $75 before year-end.
Buckle Inc. (NYSE: BKE) is a fashion retailer that sells clothing, footwear, and accessories. It's second on my list because it just beat its earnings estimate by $0.92, sending the stock 7% higher last Friday. This teen retailer is still a bullish pick with another 20% gains expected before its next earnings announcement three months from now. Shares are a buy at $40 as this stock continues to outperform its peers.
Next up is another retailer - Overstock.com Inc. (NASDAQ: OSTK) - whose shares are new to the bullish radar. The technical patterns for OSTK shares are suggesting another rally similar to what we saw in February, which drove prices 50% higher. I'm adding these shares to my portfolio with a limit price of $80.
Tractor Supply Co. (NASDAQ: TSCO) is one of my favorite retailers that we rarely talk about, and it's found its way on my list this week. It's a Brentwood, Tenn.-based retailer that offers home improvement, agriculture, and lawn care products. Shares of TSCO are bouncing from technical support at their 50-day moving average after taking a much-needed rest. The stock is trading 30% higher year to date and is now telecasting a move to $220.
Fifth on the list is Dick's Sporting Goods Inc. (NYSE: DKS), which has been on my bullish list since last summer as one of my "get out there" trades. The company announced earnings results this past Wednesday, beating both analyst and trader expectations. In fact, its stock shot up more than 17% after showing a robust first quarter, earning $3.41 per share, up from a loss of $1.71 per share a year ago. Revenue surged 119%, to $2.92 billion, year over year. So, you can be sure that I'm adding DKS shares to my portfolio at around $95.
The last stock on my summer buy list is AutoNation Inc. (NYSE: AN), the Ft. Lauderdale-based automotive retailer specializing in new and pre-owned vehicles. Usually the secondary auto market surges when the economy slows down, but this year is a little different; prices are sky-high, and there's a chip shortage, so we've got a hot secondary market and a hot economy. AN shares just finished a technical test of their bullish 50-day moving average ahead of what I see as another 25% rally in shares over the next two months.
Another Trading Opportunity...
Like I mentioned earlier, there is a lot of money to be made over the next few weeks.
This is the only worldwide pandemic reopening humanity has ever experienced, and I intend to get my fair share of the profits.
And one guy already making profits is my friend and colleague, Tom Gentile, with his "Four-Day Profit Cycle."
When you place a trade like this, you've taken the first step toward the chance to see automatic deposits hit your account in four days. Every single week, you can see profits make their way into your account in mere days - or sometimes within hours. Frankly, uncertain times call for a method like this. Go here now to make sure you don't miss out.
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About the Author
Chris Johnson is a highly regarded equity and options analyst who has spent much of his nearly 30-year market career designing and interpreting complex models to help investment firms transform millions of data points into impressive gains for clients.
At heart Chris is a quant - like the "rocket scientists" of investing - with a specialty in applying advanced mathematics like stochastic calculus, linear algebra, differential equations, and statistics to Wall Street's data-rich environment.
He began building his proprietary models in 1998, analyzing about 2,000 records per day. Today, that database, which Chris designed and coded from scratch, analyzes a staggering 700,000 records per day. It's the secret behind his track record.
Chris holds degrees in finance, statistics, and accounting. He worked as a licensed broker for 11 years before taking on the role of Director of Quantitative Analysis at a big-name equity and options research firm for eight years. He recently served as Director of Research of a Cleveland-based investment firm responsible for hundreds of millions in AUM. He is also the Founder/CIO of ETF Advisory Research Partners since 2007, noted for its groundbreaking work in Behavioral Valuation systems. Their research is widely read by leaders in the RIA business.
Chris is ranked in the top 99.3% of financial bloggers and top 98.6% of overall experts by TipRanks, the track record registry of financial analysts dating back to January 2009.
He is a frequent commentator on financial markets for CNBC, Fox, Bloomberg TV, and CBS Radio and has been featured in Barron's, USA Today, Newsweek, and The Wall Street Journal, and numerous books.
Today, Chris is the editor of Night Trader and Penny Hawk. He also contributes to Money Morning as the Quant Analysis Specialist.