# My Favorite Stock? (Plus Tactical Trading Opportunities)

Canonical: https://stocksurgedaily.com/my-favorite-stock-plus-tactical-trading-opportunities/

Hey, Ross here:

Welcome to Thursday’s edition of **_Stock Surge Daily_**. Here’s a trading idea to consider.

## **Chart of the Day**

![](https://stocksurgedaily.com/wp-content/uploads/2023/01/ssd15.png)

Cosmetics company **e.l.f. Beauty** (ELF) is a stock I have been talking about for a while – and for good reason.

The Nasdaq is just 4% above multi-year lows, yet ELF is up making new highs. The stock is consolidating around the $55 level and simply _refuses_ to sell off.

If the market shows strength and the indexes push higher, be prepared for ELF to make a big move to the upside.

## **Insight of the Day**

**Think carefully about the opportunity costs of waiting for a market bottom.**

The Fed’s recent minutes confirmed that higher rates are here to stay until much more substantial progress is made on inflation – crushing the hopes of those betting on the Fed to reverse course and pump the market with rate cuts instead.

That’s why I don’t expect the market to bottom for at least a few months. And you shouldn’t either. But this doesn’t mean you should just sit on the sidelines waiting for a bottom. There are two reasons for this.

The first is you won’t know where the _true_ bottom is until the market has already jumped significantly – meaning you’re likely to miss a large chunk of the gains.

The second is the sheer opportunity costs of waiting on the sidelines. Instead of using tactical trading to target the short-term opportunities that are always there – you’re just letting inflation eat away at your portfolio. You’re losing both potential gains AND depleting your real wealth. A double whammy.  
And if you want a system that’s perfectly designed for tactical trading – then I suggest you [**check this out**.](https://pro.stealthmodeinvesting.com/?tambid=17551)

Embrace the surge,

![](https://lh3.googleusercontent.com/u1bkP1uK4S8G0S3HvULgVlf5Oo5Wbrv55mAknbfc5OR6vNHNjP1qlrqX2FKnCLs8y4Q5nWZ9PwfIVqxhz-34fL32yao8wdaoiXCbJJ58EmJQpGN3E4bEH0IN7idHTcKiHWk13J9JVX_wS94ti3GRsm8IvwDHfDXbLDoq3cBuIPLlVZxmB1XRqeqcQ7ou_w)

Ross Givens

Editor, **_Stock Surge Daily_**