Welcome to the most volatile month of the year, folks…
If you look at momentum levels on the Nasdaq 100, you’ll notice that the number of stocks trading below their 50-day moving averages is 20%. In the past 15 years, we’ve only hit this level six times.
But these levels aren’t just showing up on the Invesco QQQ Trust Series 1 (Nasdaq: QQQ), which tracks the Nasdaq…
They’re also present on the Dow Jones Industrial Average, which tells us market internals are oversold.
And I find that it’s best to trade the strongest stocks in October 2021 while the markets are struggling near current levels.
I’m talking about the companies near all-time highs that continue to outperform the broader market. I mean, the strongest stocks during a market correction are usually the first to rise again, right?
The 2 Strongest Stocks in October 2021
The first strong stock for October 2021 is Paycom Software Inc. (NYSE: PAYC).
It’s a cloud-based human capital software company that provides online payroll and human resource technology.
PAYC’s one-year return is 49%!
As a point of reference for those of you who might need it, the S&P 500 has only given us 30% this past year…
But PAYC is also No. 9 on my relative strength list, which tells me it’s charging ahead. And for the most part, it’s ignoring the current down pressure. So that’s a great sign that its relative strength is expanding.
I have a price target of about $535 per share over the next 10 weeks if strong accumulation comes back into the market soon.
So check out my short video below and a few of the strongest stocks for October 2021.
Don’t forget to like and subscribe to our YouTube channel if you haven’t already so you can be notified as soon as we post our next video and see what other trade opportunities we’re paying close attention to!
P.S. This could be the only chance to grab a seat at the table… right alongside me.
I’m on the hunt to find my next Champion Trader…
I’m talking about someone I can take from ground zero to master expert in the coming months.
You see, it’s my mission to build an elite team of six-figure and million-dollar champion traders…
So who will be next?
