One of my favorite ways to make money is to buy great stocks that are simply down temporarily with plenty of upside potential.

Here are two we like the most.

iQIYI Inc. (NASDAQ:IQ) provides online entertainment services under the iQIYI brand name in China. It operates a platform that provides a collection of Internet video content, including professionally produced content licensed from professional content providers and self-produced content. The company also operates movie theaters in China. In addition, it provides membership, content distribution, live broadcasting, and online gaming services.

On a recent dip to less than $33 a share, we’re using weakness as a reason to buy. The company is already seeing sizable growth.  In China alone, subscribers have grown from 10 million in 2015 to 50 million as of the end of 2017.  Analysts believe there’s still substantial growth ahead.  IQ’s revenue grew by 57% to $777 million in its first quarter. In addition, in 2017, the company posted full-year sales of nearly $2.7 billion with further growth likely. Technically, after slipping from $45 to $33, the stock has found support.  From here, we’d like to see a retest of $45 with a potential run to $55 with patience.

With IQ, buy the stock and the IQ September 21, 2018 35 calls both at market prices.

Okta Inc. (NASDAQ:OKTA) operates an integrated system that connects persons via devices. The company’s identity cloud connects various companies to pre-integrated apps and devices every day. It offers single sign-on, mobility management, adaptive multi-factor authentication, lifecycle management, and universal directory products for IT customers; and complete authentication, user management, flexible administration, API access management, and developer tools for developers.

The last time we recommended OKTA, it traded at $36.31.  After watching it explode higher, we were eventually stopped out at $50 a share.  In short, we did very well.  But we believe we can do even better if we buy on the latest pullback to oversold levels. Even more attractive, according to CEO Todd McKinnon, the cloud space is still early in terms of adoption.  “I would say we’re in the third inning.  A lot of the mindset has shifted toward the future – a lot of the game is left to be played,” as quoted by The Street.

OKTA is quite an impressive stock since it went public.  Strong growth and the realization of monster opportunity in cloud-based software is likely to drive further growth.  While the stock recently pulled back, it did so even with strong results.  Revenue was up 60%, which beat the company’s guidance of 49% to 50% growth for example. With ample opportunity ahead of it, we’re using weakness as a reason to buy more.

Technically, the stock just caught support at its 50-day moving average. We’d like to see a potential test of $60 highs again, near-term.

With OKTA, buy the stock and the OKTA August 17, 2018 50 calls both at market prices.