Three Stocks to Watch This Week

SolarEdge (SEDG): These clean energy stocks suck, that’s why I’m short the ICLN.

So, it made me giggle on Saturday when I saw CNBC telling us that this is the time to buy clean energy names. That’s what I call “sliding down the slope of hope.”

My Target: $70

Marathon Oil (MRO): Analysts are starting to get nervous about the energy sector, and that crowded trade I talked about last week is going to see another round of selling.

Morgan Stanley downgraded a handful of energy names this morning, including MRO.

My target: $20

Best Buy (BBY): Jeffries upgraded their outlook for BBY this morning, suggesting that the stock is back. Balderdash! For what it’s worth, I bought a new TV at Costco this weekend, and then looked it up on Best Buy... FOR SHAME Best Buy!!! This upgrade represents throwing good money into a bad stock. 

Please avoid doing that. 

My Target: $70

About the Author

Chris Johnson (“CJ”), a seasoned equity and options analyst with nearly 30 years of experience, is celebrated for his quantitative expertise in quantifying investors’ sentiment to navigate Wall Street with a deeply rooted technical and contrarian trading style.

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