Top Stock Picks for August 2024: Keith Richards’ Expert Insights

Keith Richards Identifies Top Stock Picks for August 2024 Amid Market Volatility and Long-Term Growth Prospects

Editorial Team (ET)July 4, 2025

Keith Richards, the president and chief portfolio manager at ValueTrend Wealth Management, is renowned for his sharp technical analysis and strategic investment decisions. As the market braces for the typical volatility that often accompanies the late summer months, Richards offers a confident outlook, identifying key opportunities for investors. His top picks for August 26, 2024, include Ford Motor (F NYSE), BMO EW Glbl Base Metals ETF (ZMT TSX), and VanEck Oil Services ETF (OIH NYSEARCA). These selections are grounded in Richards' deep understanding of market cycles and his forward-looking strategy.

Market Outlook

The stock market is notorious for its seasonal fluctuations, particularly as we approach September. This period is often marked by heightened volatility, and 2024 is no exception. However, despite the near-term concerns, Richards remains optimistic about a strong market recovery post-September.

Seasonality plays a significant role in market behavior. Historically, the months leading up to October tend to be bearish, but this trend reverses as the year progresses. Richards acknowledges the potential for short-term dips but sees these as opportunities rather than threats. The early August selloff, for example, may have been a brief correction rather than a sign of sustained downturns.

One factor that could inject additional momentum into the market is the U.S. presidential election cycle. As the November election nears, markets often experience a boost, driven by political and economic shifts. Richards believes that this cycle could catalyze a robust rally in October, providing investors with significant upside potential.

Richards also highlights the broader bull/bear cycle that governs the SPX and NASDAQ indices. According to his analysis, we are still in the midst of a long-term bull market, with one to two years of upward momentum remaining. This outlook reinforces his confidence in a sustained market recovery, even in the face of short-term volatility.

For savvy investors, market corrections are golden opportunities. Richards has strategically added to his positions during recent pullbacks, capitalizing on temporary dips. He advises maintaining some cash on hand to take advantage of these corrections, as they often precede significant market rebounds.

Keith Richards' Top Picks

Ford Motor (F NYSE)

Ford Motor, an iconic American automaker, has been making aggressive strides in the electric vehicle (EV) market. With a strong focus on innovation and sustainability, Ford is positioning itself as a leader in the next generation of automotive technology.

Richards is particularly bullish on Ford’s aggressive platform. The company’s investment in EVs and advanced technologies is expected to drive long-term growth. While Ford is currently featured in his aggressive platform, Richards is considering adding it to the “regular” platform soon, indicating his confidence in the stock’s potential.

Investing in Ford comes with its share of risks, particularly in a highly competitive industry. However, the rewards could be substantial if the company continues to execute its EV strategy effectively. Investors should be prepared for some volatility but can expect strong returns in the long run.

BMO EW Glbl Base Metals ETF (ZMT TSX)

Base metals have always been a cornerstone of industrial growth, and the BMO EW Glbl Base Metals ETF provides exposure to this essential sector. Richards has a long-term cyclical view on base metals, anticipating that demand will remain robust as global infrastructure projects continue to expand.

The recent pullback in the base metals market has presented a prime entry point for investors. Richards believes that this dip is temporary and that the ETF is poised for a rebound. For those with a longer-term investment horizon, this ETF offers a solid opportunity to capitalize on future growth in the sector.

Richards’ strategy with the BMO EW Glbl Base Metals ETF is rooted in patience and foresight. By holding this ETF through the cyclical ups and downs, investors can potentially benefit from the sector’s overall upward trajectory. The key is to remain disciplined and not be swayed by short-term market movements.

VanEck Oil Services ETF (OIH NYSEARCA)

The VanEck Oil Services ETF focuses on the oil services sector, which has been somewhat overlooked compared to oil producers. Richards notes that the ETF is currently at the bottom of its trading range, suggesting that it could be an excellent value proposition for investors looking for exposure to this segment.

While oil producers have garnered more attention, the oil services sector offers unique advantages. These companies provide the essential infrastructure and services that support oil extraction and production, making them critical players in the energy market. Richards sees potential in the sector’s relative undervaluation and believes it could offer strong returns if the market recognizes its true value.

One of the most exciting aspects of the VanEck Oil Services ETF is its potential for a breakout. If the sector’s long consolidation phase ends, the ETF could experience significant gains. Richards is positioning himself to benefit from this potential upside, advising investors to consider the ETF as a key component of their portfolios.

Market Strategies and Considerations

Investing is always a balancing act between risk and reward. Richards emphasizes the importance of understanding the inherent risks in each investment while also recognizing the potential for substantial returns. His picks reflect a calculated approach that balances growth opportunities with market realities.

Cash is often underestimated in its role within an investment strategy. Richards advocates for holding a portion of assets in cash, especially during periods of market uncertainty. This approach allows investors to take advantage of buying opportunities during corrections without having to sell other assets at a loss.

One of the age-old debates in investing is whether to time the market or simply remain invested. Richards leans towards the latter, advising that staying invested in quality assets usually pays off over the long term. However, he does not discount the value of strategic timing, particularly in taking advantage of market corrections.

As market conditions change, so too should an investor’s portfolio. Richards recommends periodic rebalancing to ensure that your investments align with your financial goals and the current market environment. This strategy helps mitigate risk and keeps your portfolio on track for long-term growth.

Conclusion

Keith Richards’ top picks for August 26, 2024, reflect his deep understanding of market dynamics and his commitment to long-term investment strategies. Ford Motor, BMO EW Glbl Base Metals ETF, and VanEck Oil Services ETF each offer unique opportunities for growth, despite the current market volatility. By maintaining a disciplined approach and staying informed about market trends, investors can navigate the complexities of the market and achieve their financial goals.

Bloomberg

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