The political circus that is Washington DC has once again taken over the steering wheel and we have turned lower. The basic idea is that there are reports that an investigation has reached the oval office and that means trouble for the Trump Agenda… or does it?
Last time we had this worry over the former FBI testimony the market held its breath (as some weak hands sold shares) but eventually bounced back. It really shouldn’t be a surprise to most to see this claim blow over, so it might be a good time to find some stocks to buy.
Normally, you would hear some people recommending some stock with strong fundamentals that is down a lot as the target to grab with the market a little weaker today. I am going to suggest another route. Go with a stock that is running higher into the headwind that is today’s light selling breeze.
Follow Brian Bolan on Twitter: @BBolan1
My puppy, Buckeye, is in need of some heartworm pills. My stash of pills is down and since there haven’t been any health issues with him in the two years of his existence I say let’s not try to fix something that isn’t broken. Therefore, I want to use the same meds on him, but in a recent online search, I found only one spot carries the same brand. PetMed Express (PETS - Free Report) is not only about to count me as a customer, but it is a strong stock today amid all that weakness. It is a Zacks Rank #1 (Strong Buy) and trading more than 5% higher on strong volume. I like the growth style score of B on this one as it trades to a new 52 week high today.
This is Buckeye, you can follow him on his Instagram Account: TheBuckeyeBuck
I’m a Weight Watcher
Back in the day, Wheel of Fortune had a very catchy slogan of “I’m a Wheel Watcher” and who knew the alliteration would work so well for Weight Watchers (WTW - Free Report) ? This is a Zacks Rank #1 (Strong Buy) that has a new CEO and a stock that is surging. I see it trading just a quarter below a new 52 week high and it is clearly an idea that is working in this environment.
Finally, I want to highlight a name that isn’t a Zacks Rank #1 (Strong Buy) or a Zacks Rank #2 (Buy), but is a Zacks Rank #3 (Hold). Pure Storage (PSTG - Free Report) held an analyst day yesterday as the company looks to transition from just storage to “smart storage” by adding in some AI. AI is short for artificial intelligence, but you already knew that. I was thinking they would take this opportunity to raise guidance but they didn’t, instead they offered a longer term goal of $2B in revenue in 3 years. The stock is moving today, up more than 4.25% and there was a massive 305K share block around noon that tells you that smart money is making a play on it.