Hey, Ross here:
The release of the latest Fed meeting minutes yesterday stoked uncertainty about the Fed rate cuts promised this year.
As a result, markets continued to pull back.
Good – this is an opportunity.
And remember, as the Chart of the Day shows, just because markets are pulling back doesn’t mean individual stocks can’t break out.
Chart of the Day
I shared this chart of Interactive Brokers (IBKR) with my paid members last Friday – the final trading day of 2023.
Despite the first two trading days of 2024 being consecutively down…
IBKR has actually broken past the resistance level (horizontal white line on above chart) – and is now sitting at nearly $87.
Remember, there are always individual stocks that can and will defy the market.
Insight of the Day
The market can provide broad direction – but it cannot provide individual entry points.
It’s useful and necessary to study the direction of the broader market.
But what the broader market cannot do is to tell you when to enter individual stocks – only the stock’s individual price action can do so, as the IBKR example above reminds us.
What this means is that even though a healthy market pullback may have only just begun…
We don’t have to wait for an extended pullback to uncover some juicy entry points.
My flagship Stealth Trades strategy is already showing multiple stocks that could be about to see an influx of institutional money…
Money that could send their stock prices surging (no matter what the broader market does).
And for just a couple more days, you can still get a full year of my Stealth Trades strategy for only 99 cents by clicking here.
I suggest you grab this deal now…
And let’s take advantage of this pullback together.
Embrace the surge,
Ross Givens
Editor, Stock Surge Daily
