Sunday, February 7, 2016
Joined Jan 27, 2008
6,314 Blog Posts

Oil Holds Last Week’s Low, Market Trades Higher

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The market has moved nicely off the lows today boosted by higher oil prices. Oil held last week’s low of 27.25 this morning and has been steadily climbing higher throughout the day:

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The hybrid screen within Exodus is lighting up for once today, pulling up over 200+ names, with the majority being in the oil & gas industry.

For those interested in today’s screen, I’ve imported the results to finviz for your viewing pleasure: CLICK HERE FOR CHARTS 

Tickers of interest here include: DVN, OAS, HAL, HES, & APA

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A Look A $NOV

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NOV got hit this morning on weaker than expected earnings and traded all the way down to $26, which was the low we hit back in 2010. The company reported record write downs amid oil’s price slump, but the CEO points out that revenue fell less than the decline in rig counts while belt tightening enabled solid cash generation. He adds that the company is “well positioned to take advantage of the opportunities we expect to emerge in 2016.”

The stock is recovering intraday with the help of higher oil prices. I own a position in NOV and will use today’s low to manage the trade. Here’s a look at a 10 year monthly chart:

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Bear Eats Bull

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All of the major indices are losing their 20 day moving averages today, which was about the only thing the bulls had going for them. The S&P 500 currently sits on support from the breakout point last Friday:

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But, I’m not so sure the bulls have what it takes to see a continued bounce given the action in oil & the financials. Just take a look at the bear flag breakdown in the $XLF:

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Or, how about the former leader, biotech, which continues to find new lows:

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My screens are coming up empty and my activity continues to be light here. Chalk another one up for the bears.

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5 Stocks To Own In February

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Here are 5 names found inside Exodus with great seasonality stats for the month of February.

V – With a perfect 7 for 7 in February, Visa has not missed in the month of February– and boasts an average gain of 7.47%

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DLPH – Another stock which is perfect in the month of February, however this one posts an average return in the double digits.

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NXPI – another name which is flawless in the month of February with an average return of +12%.

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CF – This one has only missed one time in the month of February, but stills boast a +10% victory 90% of the time.

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MOBI – And, the speculative name which puts up crazy numbers in February. This one is 5 for 5 with an average gain of 34% this month.

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Monday Night Charts

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Here’s a look at today’s hybrid mover screen inside Exodus. The screen searches for stocks that have had a change greater than 25% in their respective hybrid score.

I’ve imported the tickers from today’s screen to finviz for your viewing pleasure: CLICK HERE FOR CHARTS. Charts of interest for Tuesday include:

x tsla m mbly wday bwa oclr blue splk hnt shak twx

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Potential Runners

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Here’s a list of names to start your February that have potential to start the month strong. I’ve imported today’s screen to finviz for you viewing pleasure. The screen can be found HERE.

Tickers in focus inside our trading room, 12631, include: CY, X, MNKD, TSLA, WFM, XON, MBLY, & RAX.

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