My top-rated stock this week (out of more than 6,000 stocks and ETFs) is a basic materials company that focuses on industrial metals, minerals and oil and gas. In general, I like the basic materials segment of the global economy and even more so when the companies in this segment are headquartered in either Australia, Canada or Brazil -- three countries blessed with an abundance of natural resources and strong emerging economies.

And although my 90-day global forecast data (see more on this in my Mastering the Markets newsletter this week) is providing an early warning that the likelihood of a -10% correction is building, there are plenty of signs that the market could continue to move higher in the near term.

A bull-trending market is generally positive for basic material stocks. As you can see from my time-cycle forecast for the sector (below), this market segment looks to be trending higher for the next couple of months (although some downward pressure is forecasted for late October).

In my rules-based trading book, "10: The Essential Rules for Beating the Market", I talk about the importance of buying fundamentally strong stocks; especially if faced with the likelihood of strong market volatility. Fundamentally strong stocks tend to have better staying power in falling markets. In the case of this week's pick, this stock has the highest combined score for fundamentals and technicals, making it a great candidate for potential profit.

My top pick for this week is BHP Billiton Ltd (NYSE: BHP). BHP is an Australian-based company engaged in the exploration for and production of: crude oil, liquefied natural gas, bauxite, alumina, aluminum, copper, silver, lead, zinc, uranium, diamonds, titanium, potash, nickel, iron, manganese and coal. If you like the industrial metals and minerals segment of the global economy, BHP should be a definite consideration.

BHP's fundamentals are strong:

Below are some of my technical observations on BHP:

Action to Take--> Based on the analysis above, I believe BHP is a good trade if traders buy BHP with a limit order at $72.40 and an initial stop loss at $68.94. A target of $88 would bring a profit of just over +20%.

-- Mike Turner

www.turnertrends.com

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