The markets hit yet another lofty plateau last week, holding on to Monday’s inflation bump but trading largely sideways since then.
It was another win for the bulls as short covering pushed indexes higher than was perhaps justified by the only slightly better-than-expected inflation report.
Barring some actually unexpected developments, I think we’re looking good for a gradual Santa rally to round out 2023.
On our front, I ran into a speed bump on Monday with my “Bright Idea 
” that I mentioned on Monday. Right at the market open, they announced a stock offering that put a cap on the potential for that day.
By the time most readers saw my report, the stock was thankfully already down a lot (I’m glad I held off a day and didn’t send it out Friday!)
They won’t all be huge winners, but at least they got the offering out of the way early, so that play was basically dead as soon as it came out. I call that a big “nothing burger.”
For now, I’m looking at another company that already made a direct offering earlier this month, so I don’t think another one is in the cards anytime soon. We can just focus on the technical picture at hand.
It’s a stock that’s had an orderly run-up over the last four weeks. The technicals are showing no signs of this stock slowing down yet.
If you look at the chart above, you’ll see this stock is signaling all systems “Go, GO… GO!”
In my full writeup tomorrow morning, I’ll explain how this breakout (the stock is up about 17% over the last month, as shown in the chart above) has been great, but it hasn’t made a HUGE “blow-off” type move yet…
And when I say “huge move,” I want you to consider this stock had one of the biggest days of any stock in the entire stock market earlier this year.
In a single day, this stock shot up over 700%.
Yep, I’m going to show you what happened and how this stock handed investors a ridiculous 700% gain in a single day just a few months ago.
I’m not suggesting that will happen again tomorrow, but I want to show you the type of range this stock has seen in the past.
But the stars are aligning, and as I said, this stock has been building momentum for the last few weeks.
I think tomorrow could see a real upswing.
It’s an opportunity that would need to be jumped on early, though. I think by afternoon, the entry price won’t be as favorable.
This is just a heads-up, though. I’ll have the full details for you before the market opens in the morning.
Tune in to see what I’m on to and if you agree with my idea (I’m taking bets!)
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