Home » Is This the Perfect Market Condition? (+ Another Potential Breakout)

Is This the Perfect Market Condition? (+ Another Potential Breakout)

Published February 23, 2023

Hey, Ross here:

Here’s another trade idea for you to look at – even amid this pullback.

Chart of the Day

CECO Environmental Corp (CECO) is a somewhat off-the-radar stock.

With a market capitalization of just $500 million, this small-cap environmental company is not as heavily watched as many others.

The stock formed a pretty textbook consolidation base between November in January before making a powerful move higher at the beginning of the year.

CECO is now tightening up again and holding above its 21-day EMA.

I’ll be watching for a breakout to new highs accompanied by another surge in volume.

P.S. If you want special trade prospects and potential market moves sent directly to your phone from me – just text the word ross to 74121.

Insight of the Day

What I want to see during a pullback is renewed pessimism and stock setups. The best condition is when you have lots of individual stock setups – but few believe the rally.

The above is a quote from earlier this week by one of the best traders of all time – Mark Minervini, winner of the U.S. Investing Championship.

And I just had to share it with you because it’s so incredibly spot on.

With the pullback having gone for over three weeks now – combined with more hawkish comments by Fed officials – faith in this rally is quickly dissipating.

But just like Mark, I’m still seeing tons of high-potential individual stock setups. And that means those bold enough to go against the grain and act on these setups could reap major rewards.
And if you want to see some of the highest-percentage setups there are in this very market – be sure to check this out.

Embrace the surge,

Ross Givens

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I bought my first stock when I was 12 years old. It was Microsoft. I’ve been a registered financial advisor. I’ve worked as a stock broker. I ran a managed fund. I was a Vice President at JP Morgan with Series 7, Series 66 and Series 3 securities licenses. I’ve been featured on Fox Business, CNBC, Bloomberg, and a bunch of other networks. The only thing I enjoy more than making money, is helping YOU make money.

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