March Madness Update:

Welcome to the 2009 Stock March Madness Tournament. Sorry for those that did not make the cut, space was limited, it was a first come first serve basis, duplicate picks & stocks under $5 were not accepted.

Rules: Stocks will go head to head each week. The stock with the highest percentage gain, for that week, will advance to the next round. Stocks will reset each round.

Tournament starts tomorrow, may the best man win.

Ok, enough doom and gloom. Let talk about something important, let’s talk about the 2nd annual iBC final four tournament.

Back by popular demand, take a look at last year’s contest.

If you are interested in playing, we have 64 spots, 20 of which are reserved for frequent ibc posters, to register simply leave the name of your stock in the comment section.

Notes: You may select an ETF, no duplicate picks, and share price must be above $5.

Prizes:

1st: Autographed cans of monster by The Fly

2nd: Set of Steak knives, literally. We will mail it.

If we rally from today’s low, the bottom will be 666. That’s right, 666. If we rally for a few days, then drop again, guess where support will be? 666.

Ha, no way in hell that will hold. And, when the low doesn’t hold, there will be so much panic, well… FINANCIAL ARMAGEDDON.

Enjoy your weekend!

I’ve been trading stocks since 2001, right after 9/11. I was nineteen at the time, and was somewhat intrigued by equities. I had no prior Wall Street knowledge whatsoever, but decided to dive head first into the game.

I made a few lucky bets in the beginning, and from that point on stocks became my passion. However, now it is 2009, and the world looks as if it is going to end.

Nobody wants a part of equities anymore, so it seems. But, in fact, this is exactly the time where you can make a few lucky bets. I started this game in a time of travesty, and made a bunch of coin doing so.

I’m willing to bet, had I been involved with stocks prior to 9/11, I would have been scared shitless to buy another stock. The key was, emotions, I had none.

Now maybe this time is different, maybe it’s not. I’m not here to say we are done going down, but I am here to say don’t forget to put away a few names while they’re on sale.

It’s easy to get caught up in emotions when we’re immersed in negative news, but controlling emotions is a huge ingredient to success.

Go into tomorrow like it was your first day trading. What would you buy? Why? After you find the answer, why not buy a little? Odds are your position will be green in a few months.

In short, we are closer to a bottom, than not– my opinion. Why not buy something?

______________

Here is an excerpt from Fly nightly post in The PPT:

“The key to market success is knowing when to go “all in” and when to fold. We are at a time when going “all in” can be an extremely rewarding bet, providing our Government instills an iota of confidence into the market place, which I am doubtful. In my opinion, betting on “it all going down the toilet” is a gamble not worth taking. I much rather be in cash, watching the carnage, than risking my capital into a short squeeze.”

It was once said, by Mr. Senor Tropicana himself, that he was interested in buying Chinese names. That might not be a bad idea, as we are starting to see positive data points that confirm China is making all the right moves.

Within the matrix known as Fly’s brian, aka The PPT, There’s a group of stocks known as the Chinese Burritos. Right now that sector group is rated 14 out of 202 groups.

Let’s take a look at the strongest stocks, technically:

Hybrid (Overall) score: