Hi guys,
Today we made a trade in CECO. LaserTrader in the chat room brought the stock to my attention. I quickly pulled up the symbol and took me one second to realize that CECO was a stock i had to get into and you guys into as well!
First of all, as some of you know that i love to get into trades that are heavily shorted. I love to piggy back long trades while shorts cover their shorts in a mad panic. That's how you get these big fast, dramatic rallies in some stocks. CECO has about a 12% short interest meaning 12% of shares outstanding are held traders expecting the stock to DROP! When/if it rallies, CECO shorts will have to cover or suffer big losses FAST! Opportunity knocks folks! Think LONG.
Any way, i attached charts explaining the step by step process. First chart is the setup that caught my attention on the daily charts initially, the second chart is of the 5 minute chart and that's where i pinpointed my entry using a HOLY GRAIL setup. The third chart shows how CECO looked like at the close and after the breakout. Buying before breakouts has been really working for us lately. Focus on that for now!
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