I bought $SNAP as it traded through $16 this morning. There are many eyes on this chart which always leaves me a little concerned, but I love the chart setup. It’s also my stock pick of the year for 2019: CLICK HERE.
Happy Friday.
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The bulls are putting together a nice follow-through day with the financials roaring. Oil is also putting in a solid day, and managed to break through some resistance levels. Our $SLB buy yesterday has been straight up as the company came through yesterday and announced that our 6% divi is SAFU.
Our momentum screen is lighting up this afternoon with nearly 300 names to sort through. For those that fell like doing a bit of chart surfing, I’ve placed them in Finviz for your viewing pleasure: CLICK HERE FOR CHARTS
Tickers of interest here include:
I took positions in a few of my favorite oil names this morning as the group put in some nice hammer candles yesterday. We also get news overnight on China investing $280 billion in Iran’s oil & gas and Petroleum sectors. With some higher lows, and continuation this morning, I’m taking a shot here at some beat up oil names.
The Exodus runner screen is also loaded up with a bunch of names within the industry, all with high short sellers– ripe for a squeeze. Note that the following screen are more for trading than investing. I went more the investment route, buying solid companies this morning. For those interested in today’s runner/squeeze screen: CLICK HERE FOR CHARTS
My new oil swings can be found within the confines of Exodus. For the simple investor, $OIH works well here with a stop under yesterday’s low:
Good luck all.
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I know most of you are clicking in to read about what stock I bought and/or can’t wait to read about this lack of discipine or how degenerate the stock was. But, that’s not the case here.
Over my time here at iBC, I’ve been quietly building franchises on the side in the great state of Louisiana, no Rick Ross. To date, I have setup 5 different companies, all franchise related, that have nothing to do with stocks.
My very first company I sold a few years ago for a large sum, it was a great success. A lot of work, but a great success. I have yet to sell another business until this point. The one I’m closing on this week is my newest company, and it’s time to stop the bleeding.
I had two choices basically:
A.) Donate the business, but collect rent since I own the building.
B.) Pay a hefty penalty to get out of my franchisee contact.
Lucky for me I own the land and building so (A) was the easy choice.
I wrestled with the decision for many many months, should I keep it? Hold on to it until it turns? I finally came to conclusion to take the loss and refocus my time on what is working.
I can easily relate this to stocks as it is a reminder to cut losses quick, especially in a sector or space that you have no desire to be in. Holding onto a bad stock/company is just no good. It’s clouds your judgement, hinders your ability to make sound decisions. Most importantly, hinders growth.
While it’s true, I took a big “L” here in the form of buildout costs, equipment, and a lot of sweat. I feel great about the decision and look forward to how I can use this setback to further my career.
If you find yourself holding on to a bad stock, why not free yourself and refocus? Use the loss to learn from. And, if your emotional state is not 100% after the loss, wait to place your next trade. Emotional capital is everything. It’s what separates good and bad traders. Remember that.
As for today’s market, the bulls had a decent showing and held some key levels. Here is today’s momentum scan: CLICK HERE FOR CHARTS
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With the market selling off to finish the week, let’s take a look at the top 100 ranked stocks at the close on Friday. The following screen searches for stocks that have a high financial & technical score within our system (aka The Hybrid Score), and trade over 500,000 shares in average volume.
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.
Gold continues to lead with $DRD landing the #1 ranked stock within our system this week. I’ve imported this week’s screen to Finviz for your viewing pleasure: CLICK HERE FOR RESULTS. My favorites are found below:
Straight from the momentum screen inside Exodus, here are a few names to watch as we close out the week. On a side note, can we get a hand clap for $SHOP longs, sheesh. And, our $TWLO is starting to move, see below:
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Today’s full screen has been imported to finviz for your viewing pleasure: CLICK HERE
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