iBankCoin
Joined Jan 27, 2008
7,229 Blog Posts

FAKE MEAT TO MAKE A RUN: LONG $BYND

$BYND looks great here as we end the week, up a cool 4% to start the day. Under yesterday’s low, $111, and I am less enthused about the trade (meaning that’s where you want to have a stop in place). Full year 2019 earnings are expected on February 27th so this could be the beginning of a squeeze into the report. The technicals favor a big move, keep it on watch here:

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Disclaimer: Long

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Disclaimer: I AM LONG THIS STOCK

Going into the long weekend, I think you got to have $NNVC on your radar. Nanoviricides, ticker symbol NNVC, is the leader when it comes to the COVID-19, aka the corona virus stocks. Similar to how bitcoin is the leader for Alt. Coins. NNVC was the first to move, and move bigly. The other virus stocks take cues from NNVC.

We basically have proof that China is lying on the number of people infected by this virus. We also have confirmation that the virus can be spread without showing symptoms. Either this COVID-19 is “Just the flu” or something worse. The action in stocks today said that this is “just the flu”.

We will know soon how serious this is, likely by the time we come back on Tuesday. While we wait, I’ll be hiding out in $NNVC.

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Under $7, and the trade likely becomes a bust. Make sure you have your stops in place and plans for position sizing should we get another stock offering, diluting shares.

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One Objective Here, Maybe Two

It’s been tough to find actionable ideas the past few days as all of the momentum traders seem to be fixed on crypto currency. And, rightfully so as Bitcoin passes some big retests and now appears to be on the next wave pattern. Some are even calling for old Bitcoin highs, that’s 20K, in the next few months. There is a catalyst on the horizon, which appears to be the biggest date in Bitcoin, the halving.

As for stocks, we are still in the meat of Earnings season and the Corona Virus is still in the air. Stocks do not care. There is only one objective here, maybe two, and that is Dow 30,000 & NASDAQ 10,000.

Some new individual names to add to the watchlist tonight come from the “Breakout” screen inside Exodus:

The full screen can be found HERE.

As for crypto coins, I’ve polled some pros and they all seem to agree on Tezos, that’s symbol $XTZ.

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$TSLA & $SPCE Lead The Way In 2020

As we wrap up the first week in February, let me update you guys on our “Stock of The Year Contest”. $TSLA is up 80% for the year, and is off to an early lead. If you came into the year long only 1 stock, and it was $TSLA, your year is done. Go home, job well done. $SPCE is a close second in the contest, up over 60% to start the year. If you came into the year owning both, congratulations.

$ALLT is in third place, and I honestly don’t know this ticker. I guess I should, it’s up a cool 50% to start the year. Jungle’s $BILI saw a big breakout on Thursday, and is an indirect virus play as everyone is locked inside playing video games. And, in 5th place is my pick of the year, $NVTA. The stock saw some massive buying on a technical breakout and rumors on leaked numbers. A pullback to retest today’s move would be a gift here:

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HERE IS THE FULL CONTEST LINK: CLICK HERE FOR PERFORMANCE 

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Market Ripe To Squeeze; Watch For Runners

In a runaway market such as this, it makes sense to revisit the old faithful runner screen inside Exodus. This particular screen looks for stocks on the move that have a high short percentage. Think $TSLA.

This has been a go-to screen in frothy markets and helped me find $CLVS in the chat for a nice 8% day-trade.

Members of the Exodus platform can bookmark the runner screen HERE. For those not inside our premium service, have no fear, today’s results have been imported to finviz for your viewing pleasure: CLICK HERE FOR CHARTS

Tickers on watch include: X, RRC, OAS, CLVS, CERS, KBH, DDD, IRBT, JKS.

Remember, these are names people are betting against. Should the market get hit, expect these names to follow along with the market. $X is giving us a low risk setup against the recent low @ 8.96. I’ll be looking for a trade there.

Members, make sure to refresh the runner screen in the morning, there will be more.

 

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Tesla In Flight To a $1,000 Share Price

What a thing of beauty:

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Millionaires are being made right now thanks to stubborn short sellers, and a man on a mission. You got to love these parabolic moves.

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The FOMO was real on Monday:

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With moves like that it’s no secret that $TSLA landed on top of the momentum scan to start the week. The only question now becomes how long until we hit $1000? Congrats Tesla bulls, and Raul! What a way to start February.

Here is the rest of Monday’s momentum scan: CLICK HERE FOR CHARTS. I have my eye on UBER, SPCE, BILI, PTON, SE, LULU, & of course the coronavirus.

Godspeed all.

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