CNBC Notes Healthy Rotation Out Of Tech

Technology stocks saw follow through to the downside to start the week as AAPL received a noteworthy downgrade to kick things off. CNBC notes healthy rotation out of tech into energy, and while that may be true, I’m not so sure oil has seen the lows of the year.

That said, energy names did find there way back onto Monday’s hybrid screen, with CRC, SN, & DO being the standouts:

The home construction stocks were also in play today, and $LEN is actionable right here, right now:

And, gold & silver found it’s way back on the screen with our old friend, $EXK, setting up for a move higher:

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Despite the Nasdaq being the weak link, there are still 100+ names on today’s daily hybrid screen. Today full hybrid screen inside Exodus can be found HERE.

What are you guys watching here?

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Well, I’m back from my trip to the Twin Cities and I see the market got a little loose on Friday. Tech was destroyed, with $AMZN preforming the classic summer flash crash formation. Despite Tech, the Dow is holding pat keeping complacent investors at bay.

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I like the idea of getting long oil stocks if we see oil green to start the week. Friday’s hybrid screen is littered with stocks within the oil industry, some goodies include: SWN, APA, WTI, KMI, & COP

Agriculture names also shot higher on Friday with name like: POT, AGU, & MOS closing well on the day.

Friday’s full screen scan be found HERE. Let’s see if the bears can create a follow through day in Tech. Monday’s close will be important and may set the tone for June.

See you guys at the open.

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Here’s your weekly look at the top 50 ranked stocks inside iBC’s trading software, Exodus. The following names lead the way in terms of their overall hybrid score, meaning their combined financial & technical score. Also, every name on this list maintains positive free cash flow, meaning these companies actually make money.

I’ve imported the top 50 names for your viewing pleasure, they can be found HERE. My favorites from this week’s list includes:

NOTE: The official screen for Exodus members can be found HERE.

Have A Good Weekend All!

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$FIT is trading well today after nearly hitting the $5 mark yesterday. The company has about 750M in cash on the balance sheet and was trading near a 1B valuation at the lows in yesterday’s session. Valuation, the stock is cheap, and many seem to agree with prices running higher today. Here’s my tweet yesterday:

Just a reminder that $FIT is trading near cash. Talk about thrown out with the bathwater. Someone will take them out at these levels.

— Cajun (@RaginCajun) May 31, 2017

The stock is back on the runner screen along with nearly 200+ tickers in today session. Indeed, the first of the month buy program is in full effect. Have a look at today’s screen HERE.

Oil, however, went negative on the session, but stocks seem to be holding in for now. Let’s see how we close today.

Developing..

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While everyone was focused on Bitcoin and $AMZN nearly touching $1000, $TSLA was quietly in the rear breaking back and closing above the 20 day moving average. This move comes in the face of another hit piece released just yesterday on the stock.

Take a look at this beauty below. Today’s low gives you a clear exit point should the trade go south, but prices look to be headed straight to 52 week highs from here.

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Elon Musk has an incredible vision for Tesla and the future, one that seems to be coming together perfectly. As one analyst said today, if $TSLA can hit all of their targets, this is a $500 stock.

Over the long holiday week make sure to give Elon’s TED talk a listen. It’s a glimpse into your future. Buy dips in $TSLA for the foreseeable future.

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Facebook recovered the 20 day moving average today, and has made back every penny lost since the panic of last Wednesday. Short sellers are all now in the hole giving the market the fuel it needs to rocket us higher into a holiday weekend. Indeed, the futures are already shooting higher as holiday trade is underway.

I myself have been planning a trip to Florida, where I will be celebrating more life thanks to the brave men before me. But, before I go, here are a few movers to watch from Wednesday’s screen: CLICK HERE FOR RESULTS

Charts of interest as we close out the week include:

 

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