Trending Stocks of the Week — September 30, 2024

September 30, 2024

We are just 35 days away from what could be one of the most historical election years we have ever seen.

Each presidential candidate will impact different sectors in different ways, and expert stock picker David Trainer selected one very attractive ticker for each possible outcome!

Click here to watch him sit down with Nate Tucci to discuss their pre-election gameplan.

Now for our top trending stocks of the week…

To help you discover the power of trends, every week I share with you a handful of the top trending stocks.

These stocks are picked by the custom-built TrendPoint software I designed to pick the strongest trending stocks in the market right now.

If you know anything about me, you know that every trade I get into starts with a trending stock.

Unless a stock is in a strong trend, I don’t want to hear about it. In my book, wishy washy stocks are the quickest way to losing money.

This Week’s Stocks

As September and Q3 comes to an end, we are preparing to close out 2024 strong.

We’ve seen stocks rally following the Fed’s half-point cut, but we should remain prepared for increased volatility as we get closer to the election.

One thing we can continue to count on, is stocks that continue to trend higher than the broad market.

And here are this week’s 3 strongly trending stocks:

AXP
CBRE
LNT

And don’t forget about our previous list, which you can find here.

This week’s stocks show a strong trend and could still be in play for the next few weeks.

What can you do with these stocks?

Well, there are a couple of things you could consider — after doing your own research, of course:

You could just buy the stock. This is probably the simplest thing you could do. Then just wait for it to go up and sell when you hit a profit target you’re comfortable with. This is only for stocks we’re long on. For stocks we’re short on, you can short them.
You could buy an option. You know I’m not a fan of speculative plays, but every once in a while it doesn’t hurt to throw a little cash at a speculative option. Of course, while options can move bigtime if the stock goes up… the downside of options is that you have a time limit on how quickly you need the stock to make that move. So think about your risk tolerance and consider buying calls or puts depending on the stock recommendations above.
You could do an income play. If you’ve been following me for any length of time, you know that I’m a big fan of income plays, because they increase your odds of winning. We do this by SELLING options instead of buying them. If you haven’t tried your hand at income trading yet, I urge you to try this exercise for yourself.

Without risking any money, it will really let you see the power of income trading and why it’s my favorite method.

Whether you end up doing naked puts, covered calls or some kind of spread (like this bull put spread example), income plays like these are really my preferred method to use when I’ve found a great trending stock like the ones on this week’s list.

Because even if the trend comes to an end, you don’t have to be exactly right. With a direction play like buying a call, you have to be exactly right. But an income play gives you a lot more “leeway”, where the stock can move against you and you still have room to breathe and win the trade.