Last week, I revealed my third bounce-back stock of 2023. It was Nuix [ASX:NXL].
You could have bought the stock for $1.10 on Monday morning and, by Friday, you would have been up 40% on your investment when the stock hit $1.55.
Not bad for a week’s work.
The first bounce-back stock was Megaport [ASX:MP1] when it was trading at $5.77 three months ago. MP1 traded at $11.39 on Friday, which is 97% above the level when I tipped it.
Both stocks had suffered immense drawdowns in price over the past couple of years, and I alerted you to them when I got the signal that momentum was turning back up.
These are the types of opportunities that will come thick and fast as the market recovers from the risk-off event that occurred as a result of surging inflation and spiking interest rates.
We’re approaching a key date on 13 August. It marks the two-year anniversary since the ASX 200 reached its all-time high.
I will be giving a presentation on Monday afternoon to show you why that date is so important, and how I will be ramping up my trading activity going forward as ‘Window 24’ opens up.
You can sign up for free to the event here.
We’ve seen a serious correction and even crash in the price of many former market darlings. As markets recover, it will be the investors who jump on board these stocks early that will reap the greatest rewards.
As you saw with NXL this week, if you bought NXL on Monday morning, you made a 40% return in a week. If you bought in on Friday, you aren’t in the money at all.
Timing matters in periods like this, and the opportunities on offer will be a rare chance to capture large upside quickly.
In today’s Closing Bell video, I look at the news out of Japan that there may be a change of policy on their yield curve control.
That is big news and could cause some weakness in markets in the short term because Japan is such a huge exporter of capital. If they repatriate money due to higher interest rates in Japan, it could affect many markets around the world.
But with long-term trends turning up, any weakness could be a great time to start accumulating stocks rather than running away.
Join me on Monday by signing up here, and I’ll explain how I picked MP1 and NXL when I did and why I think there are many more trades like that coming in future.
Until next week,
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Murray Dawes,
Editor, Money Weekend
