Basic materials companies develop and manufacture just about every product you will ever need. This includes things like: chemicals, plastics, construction materials, metals, paper and packaging products.
That means there are massive gains to be made in the basic materials sector, for both the companies themselves and the traders and investors that purchase top basic materials stocks.
With that in mind, here are two of my favorite top basic materials stocks to buy now…
You may or may not already know this, but I have a Cumulative Strength Index (CSI) scan. I use it as a barometer for the overall stock market and to gauge the S&P 500, the Nasdaq 100 and the top 10 sectors.
Usually you’d see companies like Apple Inc. (Nasdaq: AAPL) or Paypal Holdings Inc (Nasdaq: PYPL) leading the pack, but two top basic materials stocks have recently fought their way to the top.
If you look at my CSI scan, the strongest index right now is the Materials Select Sector SPDR (XLB). And for those of you wondering, the weakest index at the moment is the Energy Select Sector SPDR Fund (XLE).
I hate to say I told you so, but I’ve been talking about top basic materials stocks for months now. It was just only a matter of time before this happened.
If and when a COVID-19 vaccine comes out, it’ll be sent to us via snail mail. And whenever anything is shipped to us, packaging and freight shipper companies send them in basic materials like paper containers and packages.
So if you’re looking to get defensive ahead of Election Day, you can’t go wrong with either top basic materials stock I’m giving away in today’s video.
Check out today’s daily video and let me know if you’ve been taking my advice. Did you purchase any top basic materials stocks when I first mentioned them? If so, which ones? If not, are you interested in trading either one of the tickers I revealed in today’s video? Leave a comment in the section below.
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