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7 Mar

Monday March 7, 2016

by

Good morning.

I’m cash right now in the long term portfolio coming off 3 wins in a row.

The market is very tough to buy right now after the big run we’ve had but these are ideas that we are watching for dips in the coming week if the market pulls back.

BAC, This is a long-term favorite of mine.  I feel it can hit  $ 16 in the next 3 month s.  For initial entry I am looking on a dip back to the support level just under $13.

PFE, , Longer term I think a move is possible to the $36-38 range.  PFE is mov ing its operations overseas as we know which they project should result in a $ 1.8B in tax savings .  By my calculations this could boost net income by 10% and the chance for a bigger dividend coming.  There’s a lot of positives around this stock, though biotechs / pharma stocks continue to suffer in the market lately.  I think the whole sector could get a boost if the S&P finds stable footing for a while.

JBLU, Chart looks like it wants to move up but we’re very close to the 200-day moving average here so I want to play this cautiously.   Fundamentally, the stock is pretty cheap but after spending years in the markets I’ve learned to be afraid of airline stocks.

TWTR, So much bad news is already priced in that if there is any progress with the business it will probably pop .  My ideal entry would be low $17’s against the 30-day moving average for support.  From there I think another move back over $20 is very possible.

HTZ, This is another stock I really want to believe in long-term and it finally seems to have bottome d. They have reported good earning s and the spin off should help with additional value over the next 6 months.  Technically though, I find it hard to chase it and start a position with the stock price over $10.  I want to wait for a move back to around $8 and see if that level holds.  After the pummeling this stock has taken the past few years I want to be extra cautious on the entry here and wait for a clearer level of support on the price.

GENC, This is one of my favorite speculative plays right now .  I would be a buyer on any meaningful dip in price.   The company is sitting on a huge cash position and the market obviously likes the stock right now as it has been on a tear.  This makes it difficult to start an entry, thus it is very “speculative”.  I don’t want to buy the top of this move, but it very well could keep running without a pullback for another $3-5 and I could end up missing all of that.  I may decide to take a small position this week to get started on it.

Sincerely,

Allan Marshall

Jason Bond

 

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