iBankCoin
Joined Jan 27, 2008
6,783 Blog Posts

9th Annual March Madness Tournament

It’s that time again. The legendary Stock madness tournament is back for the 9th year in a row. To enter this tournament, the rules are simple:

  • Place your stock in the comment section
  • No duplicate picks, time stamp wins out (do some due diligence in the comment section).
  • NO ETFs
  • And, stocks must be over $10

The tournament will begin this upcoming Monday, with Friday’s closing price as your start point. The tournament will run each week, going head to head with an opponent, the winning percentage for the week will advance. Scores reset each week to make level playing field.

I’m going with $NTDOY as my pick this year. Let’s see if I can advance to the finals like last year, I almost had it. See below:

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Only 63 slots available, so get your pick in the comment section. Good luck everyone, this tournament is always a blast!

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S&P 500 Cracks 20 Day Moving Average, Bears Rejoice in Ecstasy

As I do my morning scans, one can’t argue the amount of stocks to bet against as key moving averages are lost. If we look at the S&P 500 as the proxy, the bulls just lost one key support level, with 2350 being the next:

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My bullish scans are coming in light this morning, however I am close to picking up a few oil names on this dip. Also, stay tuned for our 9th annual March Madness tournament. Entries will begin later tonight, look for tonight’s post.

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Weekend Rankings: iBC Top 50

Here’s your weekly look at the top 50 ranked stocks inside iBC’s trading software, Exodus. The following screen searches for stocks that have a high financial & technical score within our system, and maintain positive free cash flow.

The results below are sorted by average daily volume, NOT the actual ranking. To view the actual ranking, the official screen for members can be found & saved HERE.

I’ve imported this week’s screen for your viewing pleasure: CLICK HERE TO VIEW THE TOP 50 RANKED STOCKS

Charts of interest here include:


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It’s worth noting that $GOOGL looks ready for a breakout to $1,000. I believe she gets there before $AMZN, however it will be a tight race. I myself, just pulled the trigger on a Prime Membership, but I’m long Google in size.

Have a good weekend all!

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Crude Oil Falls Back Below $50

Crude oil is following yesterday’s move lower with some early weakness. Below, is a short term chart showing recent price history with price knifing through the $51 level like butter:

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However, once we zoom out to a longer term time frame, the bullish reversal pattern is still intact with price forming the infamous inverse head & shoulders pattern:

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I’m still a bull on oil and will view dips in oil as a buying opportunity. $51 & $55 are the important levels to watch on the upside. For now, let price find its true value.

Be back later with some screens.

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$TSLA Tesla Gets Slapped With A Downgrade From Goldman

Goldman Sachs is out with a “very scary” report on $TSLA this morning, suggesting price should fall nearly 30%, bringing a price target of $185. Here are some details:

Tesla Inc TSLA is currently ahead of its OEM peers in terms of “vehicle technology adoption, electric vehicle architecture, and (potentially) battery scale,” Goldman Sachs analyst David Tamberrino said in a report. He added, however, the company’s shares could come under pressure due to a delay in the Model 3 launch and high FCF [free cash flows] burn rate.

Tamberrino downgraded the rating on Tesla from Neutral to Sell, while reducing the six-month price target from $190 to $185. He stated the revised price target represented 28 percent downside, versus 8 percent downside for peers.

I will be looking to add some Tesla back to the portfolio should we get a meaningful dip, not today though. That said, I wouldn’t be surprised to see $TSLA go green today. Goldman likely wants in.

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$RIG Transocean Trading Higher On Strong Earnings Beat

$RIG Transocean is trading higher on the backs of a positive earnings report for Q4 2016. This is a stock I’ve followed closely over the last few months trading in and out of core positions. In my opinion, the company has turned the corner and is setup well should we see oil prices continue to rise. Below, you can find the technical picture for the stock as well as a few notes from today’s earnings report:

Transocean  (RIG) shares were up 6.5% to $14 in early morning trading Thursday after the energy company reported fourth quarter earnings of 63 cents per share, well ahead of FactSet’s consensus estimate of a loss of 4 cents per share. Revenue of $974 million also topped analysts’ $744.2 million expectations.

During the company’s earnings call, CEO Jeremy Thigpen said that the company is actively looking to make merger and acquisition deals.

It’s also worth noting that the stock has found its way back to the runner screen inside Exodus, and I’m looking for another swing entry here. Other names from today’s runner screen worth watching, which include more oil drillers: NE, DO, ESV, ATW.

Today’s full screen can be found HERE. Keep an eye on $RIG as we head into a strong season for higher oil.

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