CECE – Sell Recommendation

By: ispeculatornew
Date posted: 01.23.2007 (12:00 am) | Write a Comment  (0 Comments)

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CECE – CECO Environmental Corp. (Nasdaq) (Closing Price – $13.00)

I originally recommended Ceco Environmental as a stock to buy and hold. However, the stock is up 31% in a little over two weeks and I think it would be foolish for me not to give a sell recommendation.

I said yesterday that I think CECE still has room to run but it only gained two cents today and I think the share price is most likely going to pull back.

Furthermore, a lot of the increase in Ceco’s share price has come in the last couple of days and is due to speculators who bought in before the State of the Union Address. Well, the State of the Union Address is over and if you followed my advice on PFSW you saw what can happen to the share price of a stock after the momentum dries up.

I am going to keep watching CECE but I am going to end my commentary on it for the time being. I also plan on selling my shares tomorrow to lock in my gains.

Disclosure: I currently own shares of CECE.

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