Joined Jan 27, 2008
6,862 Blog Posts

Apple’s iWatch Is Destroying Fitbit

$FIT is active again amongst traders as the stock continues to teeter on the all important $5 threshold. In my opinion, if we breakdown below $5, we may see a $3 handle on this stock which will put this thing trading right at cash.

Apple’s iWatch is gaining momentum and superior to the fitbit on just about every level, except their active software. Fitbit is extremely easy to integrate in third party apps, which makes fitbit extremely useful on the corporate wellness side of things. Apple will eventually catch up, they are not there yet.

If I’m Samsung or Under Armour for that matter, I would find $FIT very attractive on a further decline. If Apple would somehow make a bid for $FIT, which also makes perfect sense to me, they would own the wearable fitness tracking market.

With many insurance companies getting on board, and more wearables on the market today, software becomes important. However, in the interim the question becomes: how ugly will it get before someone steps in? $FIT needs to hold the $5 level here.

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Just When You Thought It Was Safe To Invest In Burritos

$CMG is down another 6% today, and trending over on the stocktwits board. The company had a downbeat outlook slashing future earnings and noting higher than expected operating costs due to marketing.

Due to margin pressure in the second quarter the stock is down 31 points today, down 70 from it’s high back in May. With the stock trading back down to the 200 day moving average, are you a buyer here on this dip?


Long term, I think you will win in the end with $CMG. Short term, I think $CMG still has a few bumps in the road as evident by its latest update. I’m expecting to see some buyers show up at the 200 day, only to be washed away as we fall back below $400. I’ll gain interest sub $400.

Long live Burritos.

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Yuge Breakout For Biotech Stocks

$IBB, the Nasdaq Biotechnology Index Fund, is breaking out above $300, a level it has struggled with over the last few months. If you want to find out where the action is today, look no further than biotech up a cool 2% as a whole:


Today’s runner screen inside Exodus is loaded with tickers within the industry, here are a few of my favorites to watch:


The full screen can be found HERE.

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Oil Continues To Be In “Do Not Touch Mode”

Oil is falling once again to the tune of 3% and now threatening to breakdown on a large scale. Even with a tropical storm forming in the Gulf, investors continue to sell off the commodity as current supply is too great.


Here’s a weekly chart of the commodity showing the past few years of price history. With today’s move, we just pierced through the April lows, 43.76. New support becomes, 42.20, which was the low last October. Should we pierce back below $42, all bets are off for oil stocks. Take a look below:

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$BAC Bank Of America Tops Today’s Hybrid List

It was a bullish day indeed for investors as the S&P 500 hit a fresh new high. We had nearly 400 tickers on tonight’s hybrid screen, a number we have not seen in weeks. For those interested in a little chart surfing this evening: CLICK HERE for today’s hybrid movers

Bank of America, symbol $BAC, tops today’s list and is even setup technically for a move higher here. Have a look at the daily chart:

Other tickers of interest from our hybrid screen include:

Be sure to check out our Exodus trading room as we look to take a few of these setups this week. I’m off to celebrate my daughter turning 6. See you guys at the open…

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