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Stock Guide // 2017 Q4

In this edition, we examine the concept of simplicity in investing. Easy

to understand in theory, harder to execute in practice. Why is that? One

reason—many investors become emotionally invested. When financial and

personal stakes are high, people often react more viscerally than is ideal;

after all, the markets don’t have feelings or opinions. Learn to keep your

strategies timeless while not overreacting to the constant churn of market

news. Preparation and research will keep you relaxed and focused while

other jittery investors rush headlong into market storms.

This quarter’s customer success story comes from Mike Kinkead, a software

entrepreneur and avid investor. His experience with investing in Nvidia last

year led him to several insights about buying stocks before they break out.

He also shares a stock screen that he uses to look for sleeper super stocks

(one that would have picked up on NVDA early).

In the Coaches Corner, we introduce Arnie Gutierrez, a 13-year veteran of

IBD® who has coached and trained over 1,000 MarketSmith members. He’ll

share keen observations about investing, including a mistake that many

investors make during a market correction.

As always, if you have any questions or comments about your investing

research or any MarketSmith features, please call one of our product

coaches at (800) 831-2525 or email us at [email protected].

We’re here to help you make more money in the market.

Best Returns,

The MarketSmith Team

2

Marketsmith.com // 2017 Q4 l Market Charts

S & P 500 INDEXCLOSE 2519.36

2277.53

2400.98

2453.82

2490.87

2083.79

2233.62

2322.25

2352.72

2405.702417.35

50 DAY MOVING AVERAGE




2417.352417.35


2417.352417.35


2490.872490.87

2417.352417.35

2490.872490.87

2417.352417.35

2490.872490.872490.872490.87

2405.70

2453.822453.82

2405.70

2453.822453.82

2405.70

2453.822453.822453.822453.82

2352.72

AVERAGE

2352.72


2352.72



2322.252322.252322.252322.25

2400.982400.982400.98

2233.622233.622233.62

2277.53

2233.62

2277.532277.532277.53

2083.792083.792083.792083.792083.792083.792083.79

AVERAGE2277.53

2090

2140

2190

2240

2290

2340

2390

2440

2490

2540

DAILY VOLUME AND 50-DAY AVERAGE DAILY VOLUME LINE

450 M

800 M

1.4 B

2.3 B

2915118421723926122814311731732062392511281430

SEPAUGJULJUNMAYAPRMARFEBJAN 2017DECNOVOCT

NASDAQ COMPOSITECLOSE 6495.96

6341.69

6460.84

5034.41

5371.89

5769.39

5996.82

6081.96

6177.1850 DAY MOVING AVERAGE




6177.1850 DAY 6177.1850 DAY 6177.1850 DAY 6177.18MOVING AVERAGE

6177.1850 DAY 6177.1850 DAY 6177.1850 DAY 6177.18MOVING AVERAGE

6177.186177.186177.186177.18

200 DAY

AVERAGE

6460.84


6460.84


6460.84


6081.966081.966081.966081.966081.96

6341.696341.696341.69

5996.825996.825996.825996.825996.82

5769.395769.395769.395769.395769.395769.39

5371.895371.895371.895371.895371.895371.895371.895371.89

AVERAGEAVERAGE

200 DAY 200 DAY 200 DAY 200 DAY 200 DAY 200 DAY

5769.395769.395769.395769.395769.395769.39

AVERAGEAVERAGEAVERAGEAVERAGE6081.966081.966081.966081.966081.96

50 DAY 6177.1850 DAY 6177.186177.18

5050

5150

5250

5350

5450

5550

5650

5750

5850

5950

6050

6150

6250

6350

6450

DAILY VOLUME AND 50-DAY AVERAGE DAILY VOLUME LINE

850 M

1.3 B

2 B

3.3 B

2915118421723926122814311731732062392511281430

SEPAUGJULJUNMAYAPRMARFEBJAN 2017DECNOVOCT

S&P 500 Index

NASDAQ Composite

3

*All screen results are computer-generated and were run on September 30, 2017.

Market Charts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

Feature Article: Simplicity is the Ultimate Sophistication . . . . . . . . . . . . 4

Top Stocks from Top Industry Groups* . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

Take-Two Interactv Sftwr (TTWO) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

Sina Corporation (SINA) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

Formfactor Inc (FORM) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

Brooks Automation (BRKS) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

Applied Materials Inc (AMAT) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

Orasure Technologies Inc (OSUR) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

Customer Success Story: Mike Kinkead . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

Sleeper Super Stocks* . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

Align Technology Inc (ALGN) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

Arista Networks Inc (ANET) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

MarketSmith Coaches Corner: Arnie Gutierrez . . . . . . . . . . . . . . . . . . . . . . 14

In-Demand IPO Screen* . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16

58.com Inc Cl A Ads (WUBA) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

Alcoa Corporation (AA) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

Constellium N.V. Cl A (CSTM) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

Dell Technologies Inc (DVMT) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

AbbVie Inc (ABBV) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19

Gardner Denver Holdings (GDI) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19

MarketSmith Features Highlight: Weekly Chart . . . . . . . . . . . . . . . . . . . . . 20

Resources . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22

Connect with Us . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23

Table of Contents

4

Marketsmith.com // 2017 Q4 l Feature Article

Feature Article:

SIMPLICITY IS THE ULTIMATE SOPHISTICATION

Not much has changed in the market since the late nineteenth century.

In fact, looking back through historical charts will prove that the same

patterns have repeated themselves time and again. Fundamentally, model

book stocks showed stellar return on equity, earnings and sales growth

prior to their runs, both then and now. The ticker symbols and industry

sectors of these stocks may have changed, but the fact that they are all

novel and innovative remains the common thread.

What has changed in modern times is the introduction of the computer

and the internet. With investing, the computer has enabled traders across

the globe to easily screen through a large database of stocks, receive up-

to-the-minute charts and get news an instant after it happens.

At MarketSmith, we have embraced the change and have benefitted

greatly from leaps in technical innovation. Now it is possible to use

algorithms to identify patterns, set price alerts on those patterns and

narrow our investing focus with whatever criteria we choose.

However, despite the many positive developments, there are some

potential pitfalls. Technology can be a double-edged sword—we want to

use new tools to our advantage, but at the same time they can complicate

the process. Staring at an intraday chart all afternoon can cause us to

overreact to short-term market fluctuations and overtrade.

Watching the news too closely can be the root of preconceived notions

about an equity or a market. It’s critical to be timely when it comes to entry

points; however, after the buy, the only way to make money is to grab a

bench and sit tight as the stock trends in your direction.

5

Sometimes we must remember to go back to the basics. Keep it simple:

determine the market direction, identify the leading stocks in the leading

industry groups and purchase them as they emerge from sound base

structures. The best way to stay in these stocks is to consult weekly charts

and use the 10-week moving average as a guide.

Looking at intraday charts is insignifi cant. In fact, the famous dancer-

turned-investor Nicolas Darvas was able to enjoy great success in the

1950s bull market even as he received days-old quotes while touring

on the road. Taking a step back can help block out the noise and keep

emotions in check. Having a plan and sticking to it will help keep investing

profi ts consistent and positive. Everything else is just needless complexity.

This intraday chart for Skywest can be unsettling. But a check of its

weekly chart refl ects a successful breakout during the same time period.

SKYW intraday chart

SKYW weekly chart snapshot from the same period

Source: MarketSmith, Inc 2017

6

Simplicity is the ulti mate sophisti cati on

This screen off ers a simple, yet proven formula to fi nd top stocks during changing market conditi ons. It uses Relati ve Strength and Composite rati ng to fi nd the strongest trending stocks, industry group rati ng to focus on the best themes, and a volume parameter to identi fy insti tuti onal-quality stocks.

Top Stocks from Top Industry Groups

COMPANY (SYMBOL) INDUSTRY GROUP COMP RATING PAGE

Take-Two Interactv Sftwr (TTWO) Computer Sftwr-Gaming 99 7

Sina Corporation (SINA) Internet-Content 99 7

Formfactor Inc (FORM) Elec-Semiconductor Equip 99 8

Brooks Automation (BRKS) Elec-Semiconductor Equip 99 8

Applied Materials Inc (AMAT) Elec-Semiconductor Equip 99 9

Orasure Technologies Inc (OSUR) Medical-Products 99 9

Visit marketsmith.com/learn/stockguide to load the criteria for this and

other Stock Guide screens directly into your MarketSmith screener.

*All screen results are computer-generated and were run on September 30, 2017. This screen can also be found on

marketsmith.com in shared screens.

Screen created by Andrew Rocco, MarketSmith Product Coach

7

Marketsmith.com // 2017 Q4 l ScreensTake-Two Interactv Sftwr (TTWO)

Sina Corporation (SINA)

TAKE-TWO INTERACTV SFTWR(TTWO) NASDAQ 106.5 SHRS / 104.4 FLT / AVG VOL 1.89MIL $102.23(OH -1%)COMPUTER SFTWR-GAMING take2games.com

DESIGNS INTERACTIVE ENTERTAINMENT SOFTWARE, HARDWARE AND ACCESSORIES FOR GAMING AND ENTERTAINMENT HARDWARE PLATFORMS. 8/17 EXPECTS FY18 EARNINGS OF $1.00 TO $1.25 PER SHARE ON REVENUES OF $1.62 BIL TO $1.72 BIL.

SHORT INT 2 DAYS -4%OPTIONS ON AM/MSUP/DOWN 2.1EX-DIVYIELD

GROWTH RATE -4%EARNINGS STAB 60EPS RANK 79PE 38 (1.8XS&P)5 YR PE 4 - 41

DEBT 25%NEW CEOTIMELINESS AACC/DIST ASMR RATING A

10.66 X BK VALUEINVENTORY TO. 110.5XR&D 7.7%RET ON EQUITY 30%CASH FLOW $5.06

FUNDS 50%BANKS 2%MGMT 2%ALPHA 0.25BETA 1.39

50.19 51.34

60.20

80.54

41.70

48.58

56.50

70.39

97

QTR 3QTR 2

QTR 1

QTR 4

-O

30

40

50

60

70

80

90

100

PRICE SCALE

99COMPOSITE RATING(C)

11$ 1.02 $ 17 1012 -0.71 16 713 0.36 19 1014 4.48 29 1615 1.98 37 2316 2.09 51 3117 2.0518 2.20 EST +7% ↑

EARNINGS (MAR) HI LOGravityCo GRVY 99 80GluMobile GLUU 97 1Nintendo C NTDOY 93 71ActivsnBlz ATVI 92 73Changyou CYOU 92 65

GROUP REL STR 99 RS EPS

29151184217239261228143117317320623925112814SEPAUGJULJUNMAYAPRMARFEBJAN 17DECNOV

EARNINGS $SALES MIL. $DIVIDEND-PE

0.65 VS 0.51 +27%420.2 VS 347.0 +21%

N/A 31X -- 26X

0.98 VS 0.89 +10%476.5 VS 414.2 +15%

N/A 31X -- 26X

0.68 VS 0.46 +48%571.6 VS 377.2 +52%

N/A 34X -- 29X

0.41 VS -0.34 #+221%418.2 VS 311.6 +34%

N/A 41X -- 33X

EPS DUE 11/2 QUARTER ENDED SEP 30,16 QUARTER ENDED DEC 31,16 QUARTER ENDED MAR 31,17 QUARTER ENDED JUN 30,17

R S LINE VS SP500

VOLUME

500 K

1.5 M

4.5 M

* SINA CORPORATION(SINA) NASDAQ 71.2 SHRS / 69.8 FLT / AVG VOL 1.08MIL $114.65(OH -3%)INTERNET-CONTENT sina.com

CHINESE INTERNET PORTAL OFFERING MEDIA CONTENT AND SERVICES FOR CHINA AND THE GLOBAL CHINESE COMMUNITIES. 4/14 TO REPURCHASE UP TO $500 MIL WORTH OF COMMON STOCK OUTSTANDING.

SHORT INT .8 DAYS -24%OPTIONS ON AM/MSUP/DOWN 1.1EX-DIVYIELD

GROWTH RATE +40%EARNINGS STAB 55EPS RANK 99PE 48 (2.4XS&P)5 YR PE 26 - 377

DEBT 6%NEW CEOTIMELINESS BACC/DIST BSMR RATING B

3.08 X BK VALUEINVENTORY TO.R&D 21.0%RET ON EQUITY 4%CASH FLOW $1.78


74.40 73.72

68.44

97.79

118.85

59.87

55.79

62.86 63.05

83.40

96

QTR 3QTR 2

QTR 1

QTR 4

108/100

40

50

60

70

80

90

100

110

120

PRICE SCALE

99COMPOSITE RATING(C)

11$ 0.92 $ 127 4012 0.15 70 3513 1.13 80 3914 0.76 77 3015 0.89 53 2716 1.41 74 3417 2.95 EST +109% ↑18 3.97 EST +35% ↑

EARNINGS (DEC) HI LOIzea IZEA 99 27YY Inc YY 98 99Autohome A ATHM 98 96Weibo A WB 98 80Bitauto BITA 98 79




0.56 VS 0.39 +44%274.9 VS 226.3 +21%

N/A 76X -- 51X

0.63 VS 0.35 +80%313.4 VS 256.2 +22%

N/A 76X -- 49X

0.50 VS -0.04 #+1350278.1 VS 198.7 +40%

N/A 65X -- 44X

0.70 VS 0.27 +159%358.9 VS 244.0 +47%$7.46 55X -- 42X


R S LINE VS SP500

VOLUME

400 K

1.2 M

3.5 M

8

Formfactor Inc (FORM)

Brooks Automation (BRKS)

FORMFACTOR INC(FORM) NASDAQ 72.5 SHRS / 70.4 FLT / AVG VOL 744858 $16.85(OH 0%)ELEC-SEMICONDUCTOR EQUIP formfactor.com

MANUFACTURES WAFER PROBE CARDS FOR DRAM, SYSTEM-ON-CHIP AND NON-VOLATILE MEMORY SEMICONDUCTORS.

5/17 EXPECTS Q2 2017 NON-GAAP EARNINGS OF $0.24 TO $0.30 PER DILUTED SHARE ON REVENUES OF $130 MIL TO $138 MIL.

SHORT INT 1.8 DAYS -40%OPTIONS ON AM/MSUP/DOWN 2.3EX-DIVYIELD

GROWTH RATEEARNINGS STABEPS RANK 80PE 16 (0.8XS&P)5 YR PE 12 - 63




11.15

12.05

13.15

11.90

15.58

14.70

8.55

10.60 10.6510.45

11.80 95

QTR 3QTR 2

QTR 1

QTR 4

8

10

12

14

16

18

PRICE SCALE

99COMPOSITE RATING

11$ -1.06 $ 11 412 -0.71 6 313 -0.40 7 414 0.32 9 515 0.37 10 516 0.49 12 617 1.22 EST +149% ↑18 1.32 EST +8% ↓

EARNINGS (DEC) HI LOUltraClean UCTT 99 89Amtech ASYS 99 51ElectroSci ESIO 99 44Ichor Hldn ICHR 98 80DataIO DAIO 98 80




0.22 VS 0.06 +267%123.3 VS 65.9 +87%

N/A 63X -- 51X

0.20 VS 0.10 +100%123.9 VS 71.8 +73%

N/A 62X -- 25X

0.24 VS -0.11 #+318%128.8 VS 53.6 +140%

N/A 38X -- 24X

0.40 VS 0.13 +208%144.0 VS 83.1 +73%

N/A 27X -- 14X

EPS DUE*10/27 QUARTER ENDED SEP 30,16 QUARTER ENDED DEC 31,16 QUARTER ENDED MAR 31,17 QUARTER ENDED JUN 30,17

R S LINE VS SP500

VOLUME

176 K

500 K

1.3 M

BROOKS AUTOMATION(BRKS) NASDAQ 69.8 SHRS / 67.7 FLT / AVG VOL 595414 $30.36(OH 0%)ELEC-SEMICONDUCTOR EQUIP brooks.com

MAKES AUTOMATION AND CRYOGENIC PRODUCTS FOR SEMICONDUCTOR AND LIFE SCIENCES APPLICATIONS WORLDWIDE. 8/17 ACQUIRED THE SOFTWARE ASSETS OF RURO INC, BASED IN FREDERICK, MD.

SHORT INT 1.1 DAYS -41%OPTIONS ON AM/PHUP/DOWN 1.0EX-DIV 9/7YIELD 1.3%


DEBT 0%NEW CEOTIMELINESS AACC/DIST BSMR RATING B



17.98

22.01

30.23

26.38

12.71

20.4821.61

22.40

97

QTR 3QTR 2

QTR 1

QTR 4

-O

10

15

20

25

30

PRICE SCALE

99COMPOSITE RATING

11$ 1.46 $ 14 712 0.61 12 713 0.23 10 714 0.42 13 815 0.57 13 916 0.61 17 817 1.18 EST +93% ↑18 1.37 EST +16% ↑

EARNINGS (SEP) HI LOUltraClean UCTT 99 89Amtech ASYS 99 51ElectroSci ESIO 99 44Ichor Hldn ICHR 98 80NovaMeas NVMI 97 97




0.26 VS 0.19 +37%157.6 VS 145.8 +8%$0.10 26X -- 21X

0.28 VS 0.07 +300%160.0 VS 120.0 +33%$0.10 30X -- 24X

0.33 VS 0.09 +267%169.3 VS 135.3 +25%$0.10 29X -- 22X

0.41 VS 0.18 +128%181.7 VS 147.5 +23%$0.10 30X -- 21X


R S LINE VS SP500

VOLUME

132 K

450 K

1.3 M

9

Marketsmith.com // 2017 Q4 l ScreensApplied Materials Inc (AMAT)

Orasure Technologies Inc (OSUR)

* APPLIED MATERIALS INC(AMAT) NASDAQ 1,066.5 SHRS / 1,055.8 FLT / AVG VOL 10.19MIL $52.09(OH 0%)ELEC-SEMICONDUCTOR EQUIP appliedmaterials.com

MANUFACTURES DEPOSITION, INSPECTION AND ETCHING AND CLEANING EQUIPMENT USED IN IC AND FLAT PANEL DISPLAY FABRICATION. 7/17 NAMED DANIEL J. DURN CFO, EFFECTIVE AUGUST 24, 2017, REPLACING ROBERT J.

HALLIDAY WHO WILL RESIGN.

SHORT INT 1.3 DAYS -8%OPTIONS ON AM/MSUP/DOWN 1.0EX-DIV 11/22YIELD 0.8%


DEBT 44%NEW CEOTIMELINESS AACC/DIST BSMR RATING A



39.81

47.86 47.59

27.56

31.66

37.41

40.7941.94

95

QTR 3QTR 2

QTR 1

QTR 4

20

30

40

50

PRICE SCALE

99COMPOSITE RATING

11$ 1.30 $ 16 912 0.75 13 913 0.59 18 1114 1.07 25 1615 1.19 25 1416 1.75 33 1517 3.20 EST +83% ↓18 3.61 EST +13% ↑

EARNINGS (OCT) HI LOUltraClean UCTT 99 89Amtech ASYS 99 51ElectroSci ESIO 99 44Ichor Hldn ICHR 98 80NovaMeas NVMI 97 97




0.66 VS 0.29 +128%3297 VS 2368 +39%$0.10 23X -- 20X

0.67 VS 0.26 +158%3278 VS 2257 +45%$0.10 22X -- 17X

0.79 VS 0.34 +132%3546 VS 2450 +45%$0.10 20X -- 16X

0.86 VS 0.50 +72%3744 VS 2821 +33%$0.10 21X -- 16X

EPS DUE 11/17 QUARTER ENDED OCT 31,16 QUARTER ENDED JAN 31,17 QUARTER ENDED APR 30,17 QUARTER ENDED JUL 31,17

R S LINE VS SP500

VOLUME

5 M

9 M

ORASURE TECHNOLOGIES INC(OSUR) NASDAQ 59.5 SHRS / 55.3 FLT / AVG VOL 704518 $22.50(OH -1%)MEDICAL-PRODUCTS orasure.com

DEVELOPS PROPRIETARY ORAL FLUID DIAGNOSTIC PRODUCTS AND SPECIMEN COLLECTION DEVICES. 8/17 EXPECTS Q3 2017 EARNINGS OF $0.09 TO $0.10 PER SHARE ON REVENUES OF $40.5 TO $41.5 MIL.

SHORT INT 6.3 DAYS -15%OPTIONS ON AM/PHUP/DOWN 1.6EX-DIVYIELD





9.53

13.03

15.72

21.59

7.09

8.39

10.75

14.12

17.06

98

QTR 3QTR 2

QTR 1

QTR 4

5

10

15

20

25

PRICE SCALE

99COMPOSITE RATING

11$ -0.14 $ 10 512 -0.29 14 613 -0.20∆ 7 314 -0.08∆ 10 515 0.14 10 416 0.35 9 517 0.48 EST +37% ↑18 0.40 EST -17% ↑

EARNINGS (DEC) HI LOBiolife So BLFS 99 42Caredx CDNA 99 37FemleH VERU 99 20Novocure NVCR 98 46Quidel QDEL 98 33




0.11 VS 0.03 +267%32.3 VS 29.9 +8%N/A 41X -- 30X

0.13 VS 0.08 +63%35.5 VS 32.4 +10%N/A 37X -- 24X

0.21∆ VS 0.04 +425%32.6 VS 29.1 +12%N/A 37X -- 25X

0.09 VS 0.07 +29%40.2 VS 31.4 +28%N/A 39X -- 25X


R S LINE VS SP500

VOLUME

300 K

850 K

2.5 M

10

Marketsmith.com // 2017 Q4 l Customer Success Story

Mike Kinkead got serious about growth stock investing after losing half

his portfolio in the dot-com crash of 2000. He started using Daily Graphs

in 2003 and became a MarketSmith subscriber when it launched in 2010.

He’s also a regular contributor to the Boston IBD Meetup.

As a co-founder and CEO of three software companies, Mike had an

interest in artificial intelligence (AI). Having read about AI in late 2015,

followed by several IBD articles about Nvidia, Mike took a look at NVDA.

Using the data boxes on a MarketSmith weekly chart, Mike found metrics

he liked, including:

Mike also saw a favorable chart pattern and the price/volume action. Nvidia

had just broken out of a cup-with-handle base, albeit with low volume.

However, there were five skyscraper spikes of volume on the right side

of the base because of a stellar earnings report and institutional buying.

With strong conviction in the story due to the pervasiveness of AI in many

applications going forward, Mike made his first purchase. He added to his

position twice after that: once on an earnings gap up on May 13, 2016,

and again out of a flat base on September 28, 2016. He sold the later two

purchases but kept his original position, adding to it again in May 2017.

Customer Success Story: MIKE KINKEAD

• A Composite rating of 99

• A Relative Strength rating of 98

• Two quarters of accelerating earnings, accelerating sales and an earnings surprise

• An Accumulation/Distribution rating of B

• An Up/Down ratio of 1.7

• Six funds from IBD’s mutual fund list had positions in the stock

• The semiconductor industry group ranked 25 out of 197

11

What Mike learned from this trade was that if you fi nd a potentially

strong stock that has quarterly sales growth less than 20%, you must look

carefully for quarterly sales acceleration—a point IBD Founder Bill O’Neil

emphasizes in his book, “How to Make Money in Stocks.” Mike used his

conviction in the story to reinforce his decision to buy NVDA, which he

now calls a sleeper super stock.

Mike says, “The MarketSmith Growth 250 is a sophisticated set of screens

to capture any CAN SLIM-worthy stock you would want to consider buying.

It has an Additions report that comes out every Friday listing all the stocks

that have been added to the Growth 250 list. It is a must-read report every

weekend!” In Nvidia’s case, it was not on the Growth 250 on February 19,

2016, but it showed up on the Additions report the next Friday and stayed on

the list until Mike bought the stock on March 28, 2016.

Nvida Corp (NVDA) had a low volume breakout but big volume in the

base 2 days after breakout.

Source: Mike Kinkead © 2017 Data Copyright William O’Neil + Company, Incorporated

12

Look for up-and-coming super stocks

This screen would have captured NVDA before Mike purchased it in March of 2016. Two big factors in a sleeper super stock decision: it’s a 1, 2 or 3 in the Composite Rati ng rank in its O’Neil Industry Group, and you have convicti on in the stock’s growth story.

Sleeper Super Stocks


Align Technology Inc (ALGN) Medical-Products 99 13

Arista Networks Inc (ANET) Computer-Networking 99 13

Corcept Therapeutics Inc (CORT) Medical-Biomed/Biotech 99 N/A

I P G Photonics Corp (IPGP) Elec-Scientifi c/Msrng 99 N/A





Screen created by Mike Kinkead, MarketSmith member since 2010

13

Marketsmith.com // 2017 Q4 l ScreensAlign Technology Inc (ALGN)

Arista Networks Inc (ANET)

ALIGN TECHNOLOGY INC(ALGN) NASDAQ 80.2 SHRS / 71.3 FLT / AVG VOL 931182 $186.27(OH -1%)MEDICAL-PRODUCTS aligntech.com

DEVELOPED A PROPRIETARY SYSTEM FOR TREATING MALOCCLUSION, OR THE MISALIGNMENT OF TEETH. 7/17 EXPECTS Q3 2017 EARNINGS OF $0.78 TO $0.81 PER DILUTED SHARE ON REVENUES OF

$355 MIL TO $360 MIL.

SHORT INT 3.9 DAYS +56%OPTIONS ON AM/MSUP/DOWN 1.1EX-DIVYIELD





102.10

145.24

154.85

190.04

83.2788.56

165.18

97

QTR 3QTR 2

QTR 1

QTR 4

BARRONS 9/15/17

-O

60

80

100

120

140

160

180

PRICE SCALE

99COMPOSITE RATING

11$ 0.97 $ 25 1412 1.13 39 2213 1.54 60 2514 1.77 65 4315 1.70 68 5116 2.33 102 5717 3.40 EST +46% ↑18 4.05 EST +19% ↓

EARNINGS (DEC) HI LOCaredx CDNA 99 37FemleH VERU 99 20OrasureTec OSUR 98 72Novocure NVCR 98 46Quidel QDEL 98 33




0.63 VS 0.34 +85%278.6 VS 207.6 +34%N/A 47X -- 41X

0.59 VS 0.60 -2%293.2 VS 230.3 +27%N/A 45X -- 37X

0.59 VS 0.50 +18%310.3 VS 238.7 +30%N/A 49X -- 38X

0.85 VS 0.62 +37%356.5 VS 269.4 +32%N/A 64X -- 48X


R S LINE VS SP500

VOLUME

450 K

1.4 M

4.3 M

* ARISTA NETWORKS INC(ANET) NYSE 72.5 SHRS / 45.0 FLT / AVG VOL 875286 $189.61(OH -1%)COMPUTER-NETWORKING arista.com

PROVIDES CLOUD NETWORKING SOFTWARE, HARDWARE FOR INTERNET, CLOUD AND NEXT-GEN DATA CENTERS. 8/17 EXPECTS Q3 2017 REVENUES OF $405 MIL TO $420 MIL.

SHORT INT 3.6 DAYS -34%OPTIONS ONUP/DOWN 1.3EX-DIVYIELD


DEBT 4%NEW CEOTIMELINESS AACC/DIST CSMR RATING A



87.62

103.00

162.97

78.82 79.05

87.33

144.19 141.78

169.61169.61

97

QTR 3QTR 2

QTR 1

QTR 4

-O

60

80

100

120

140

160

180

PRICE SCALE

99COMPOSITE RATING$43.00IPO 6/06/14

11$ 0.53 $12 0.3313 0.8214 1.54 94 5515 2.44 88 5616 3.30 98 5217 4.70 EST +42% ↑18 5.58 EST +19% ↑

EARNINGS (DEC) HI LOExtremeNtk EXTR 98 90UplandSoft UPLD 96 80CalAmp CAMP 93 62Silicom SILC 91 82SilverSpri SSNI 91 48




0.83 VS 0.59 +41%290.3 VS 217.6 +33%N/A 31X -- 24X

1.04 VS 0.80 +30%328.0 VS 245.5 +34%N/A 32X -- 26X

0.93 VS 0.68 +37%335.5 VS 242.2 +39%N/A 41X -- 29X

1.34 VS 0.74 +81%405.2 VS 268.7 +51%N/A 46X -- 38X


R S LINE VS SP500

VOLUME

194 K

600 K

1.7 M

14

Marketsmith.com // 2017 Q4 l MarketSmith Coaches Corner

Arnie Gutierrez joined Investor’s Business Daily in 2004, working in

customer service for Daily Graphs Online®. Arnie then became a sales

supervisor and product coach for the launch of MarketSmith. He is also

a dynamic national speaker and travels the country teaching investing

strategies such as CAN SLIM® and demonstrating MarketSmith. IBD

Market Commentator Amy Smith recently spoke with Arnie.

Amy Smith: How did you get started in investing?

Arnie Gutierrez: My first job after graduating with an economics degree

from University of California, Santa Barbara was as a booker for MGM’s

Theatrical Distribution department, booking films in theaters like AMC

and Cinemark. I joined Daily Graphs in 2004 (prior to Daily Graphs

becoming MarketSmith in 2010) because part of the job allowed me to

learn more about the stock market, which I had always been interested

in. I had no idea who Bill O’Neil was at the time and I didn’t know anything

about CAN SLIM investing.

MarketSmith Coaches Corner: ARNIE GUTIERREZ

15

AS: You traveled extensively with Scott O’Neil, the President of MarketSmith and son of IBD Founder Bill O’Neil. What did you learn from being around Scott and hearing him speak so many times?

AG: Scott pushed me to learn more about the market at a much deeper level

and would bring me up on stage at the Level 2 workshops with him. He said

I had a natural speaking ability even though I was really terrified of public

speaking. With Scott’s encouragement I worked on those abilities and became

a National Speaker for IBD and MarketSmith. I have gained more confidence

and now look forward to the IBD Trading Summits, the MoneyShows and the

TradersEXPOs, where I teach investors about the market and MarketSmith.

AS: What is your favorite feature of MarketSmith?

AG: Hands down it’s the weekly chart. There is so much information

captured on a single page. Everything that an investor needs to make a

decision is right in front of you. It also allows you not to be influenced by the

day-to-day market fluctuation caused by high frequency trading—which

are highly sophisticated algorithms looking to go in and out of investments

within seconds. This, in the end, will help you capture the long-term trend.

The market never really changes; it’s still all about supply and demand.

Learning to interpret the price and volume action gives me the confidence

and conviction to trade. My other favorite MarketSmith tool is Pattern

Recognition. As a product coach, it really helps a newer investor to see base

patterns like cup with handle, or the double bottom base, or three-weeks tight.

AS: You have coached more than 1,000 MarketSmith members. What is a common investing obstacle people face?

AG: A lack of patience. Too many people are looking for immediate satisfaction

and they have a hard time sitting through a market correction. But that really

is the most exciting time because there will be fresh leadership as a new

uptrend begins. If you continue doing your research during a correction,

follow a regular routine and understand the company’s story, you can

capitalize on those stocks as they begin breaking out.

16

Looks for stocks with strong rati ngs that had their IPO within the last 7 years

To fi nd newer stocks ready to make some noise, Product Coach Arnie Guti errez looks to IPOs that show strong demand. This screen uses 3-month RS rati ngs, 50-day average volume minimums and a cap of 7 years since their IPO date.


58.com Inc Cl A Ads (WUBA) Retail-Internet 97 17

Alcoa Corporation (AA) Mining-Metal Ores 92 17

Constellium N.V. Cl A (CSTM) Steel-Specialty Alloys 87 18

Dell Technologies Inc (DVMT) Computer-Hardware/Perip 95 18

AbbVie Inc (ABBV) Medical-Ethical Drugs 97 19

Gardner Denver Holdings (GDI) Machinery-Gen Industrial 86 19





In-Demand IPO Screen

Screen created by Arnie Guti errez, MarketSmith Product Coach

17

Marketsmith.com // 2017 Q4 l Screens58.com Inc Cl A Ads (WUBA)

Alcoa Corporation (AA)

58.COM INC CL A ADS(WUBA) NYSE 121.4 SHRS / 111.6 FLT / AVG VOL 1.61MIL $63.14(OH -8%)RETAIL-INTERNET 58.com

CHINESE OPERATOR OF AN ONLINE MARKETPLACE SERVING LOCAL MERCHANTS AND CONSUMERS VIA 58.COM AND MOBILE APPS. 8/17 EXPECTS Q3 2017 REVENUES OF $381.7 MIL TO $396.7 MIL (RMB2,550 MIL TO

RMB2,650 MIL).



DEBT 1%NEW CEOTIMELINESS AACC/DIST BSMR RATING C

3.61 X BK VALUEINVENTORY TO.R&D 14.6%RET ON EQUITY N/ACASH FLOW $-0.08


30.97

38.95

47.38

68.85

27.72 27.58

34.55

40.0297

QTR 3QTR 2

QTR 1

QTR 4

20

30

40

50

60

70

PRICE SCALE


11$ -1.05 $12 -0.3813 0.28 39 2114 0.33 58 3115 -1.55 83 3716 -0.24 66 2717 1.19 EST ↓18 2.03 EST +71% ↓

EARNINGS (DEC) HI LOBaozun A BZUN 98 99Overstk OSTK 98 7Stamps STMP 97 99Alibaba BABA 96 98Wayfair A W 94 22




-0.01 VS -0.50 N/A306.5 VS 212.9 +44%N/A N/A

-0.02 VS -0.35 N/A301.4 VS 255.3 +18%N/A N/A

0.10 VS -0.38#+126%288.5 VS 233.4 +24%N/A N/A

0.66 VS 0.14 +371%382.5 VS 292.8 +31%N/A 226X -- 191X


R S LINE VS SP500

VOLUME

500 K

1.5 M

4.5 M

ALCOA CORPORATION(AA ) NYSE 184.3 SHRS / 169.6 FLT / AVG VOL 3.74MIL $46.62(OH -2%)MINING-METAL ORES alcoa.com

ENGAGED IN MININGS OF BAUXITE, ALUMINA, ALUMINUM, CAST PRODUCTS, ROLLED PRODUCTS AND ENERGY GLOBALLY. 7/17 NARROWED 2017 ADJUSTED EBITDA GUIDANCE TO $2.1 BIL TO $2.2 BIL.



DEBT 25%NEW CEO 10/16TIMELINESS AACC/DIST BSMR RATING D

1.52 X BK VALUEINVENTORY TO. 8.0XR&D 0.4%RET ON EQUITY N/ACASH FLOW $3.12


32.35

39.78

37.20

34.09

47.95

28.01

33.35

30.42 29.55

96

QTR 3QTR 2

QTR 1

QTR 4

10

20

30

40

50

PRICE SCALE

93COMPOSITE RATING

11$ 0.71 $12 -1.2013 -15.9414 -1.4015 -4.73∆16 -0.78∆ 32 2117 2.96 EST ↑18 2.98 EST +1% ↑

EARNINGS (DEC) HI LOTaseko TGB 99 80Mesabi MSB 98 75Vedanta VEDL 95 80NoDynMnrl NAK 95 14HudbayMnrl HBM 93 69




-0.05∆ VS -0.68∆ N/A2329 VS 2679 -13%N/A N/A

0.14 VS -4.53∆#+103%2537 VS 2451 +4%N/A N/A

0.63 VS -0.62#+202%2655 VS 2129 +25%N/A N/A

0.62 VS -0.24#+358%2859 VS 2323 +23%N/A 78X -- 62X


R S LINE VS SP500

VOLUME

1.8 M

5 M

12.5 M

18

Constellium N.V. Cl A (CSTM)

Dell Technologies Inc (DVMT)

CONSTELLIUM N.V. CL A(CSTM) NYSE 105.6 SHRS / 103.5 FLT / AVG VOL 1.59MIL $10.25(OH -12%)STEEL-SPECIALTY ALLOYS constellium.com

MANUFACTURES SPECIALTY ROLLED AND EXTRUDED ALUMINUM PRODUCTSFOR THE AEROSPACE, PACKAGING AND AUTOMOTIVE END-MARKETS. 3/17 Q1 2017 INCLUDES A EURO 2 MIL RESTRUCTURING COSTS.

SHORT INT .3 DAYS -50%OPTIONS ONUP/DOWN 1.5EX-DIVYIELD


DEBTNEW CEO 7/16TIMELINESS CACC/DIST BSMR RATING

-1.77 X BK VALUEINVENTORY TO. 8.3XR&D 0.7%RET ON EQUITY N/ACASH FLOW $1.52


6.95

8.85

7.257.60

10.95

11.7011.70

4.85

5.755.35 5.35

6.05

6.60

9.50

96

QTR 3QTR 2

QTR 1

QTR 4

4

6

8

10

12

PRICE SCALE


11$ -2.08 $12 1.87∆13 1.31∆ 23 1314 0.68∆ 32 1515 -5.72∆ 20 316 -0.03∆ 8 317 0.61 EST ↑18 1.16 EST +90% ↑

EARNINGS (DEC) HI LOAlleghnyTe ATI 93 80UnivStnlss USAP 93 65CarpenterT CRS 88 75Ferroglobe GSM 85 60Timkenstee TMST 72 63




0.16∆ VS -0.48∆#+133%1347 VS 1405 -4%N/A N/A

-0.20 VS -4.42∆ N/A1224 VS 1218 0%N/A N/A

0.13∆ VS -0.09∆#+244%1420 VS 1310 +8%N/A N/A

0.17 VS 0.09∆ +89%1576 VS 1369 +15%N/A 42X -- 34X


R S LINE VS SP500 VOLUME

300 K

900 K

2.5 M

DELL TECHNOLOGIES INC(DVMT) NYSE 409.7 SHRS / 36.9 FLT / AVG VOL 1.07MIL $77.21(OH 0%)COMPUTER-HARDWARE/PERIP dell.com

MANUFACTURES, MARKETS, SELLS AND SUPPORTS A WIDE RANGE OF PRODUCTS AND SERVICES TO CUSTOMERS. 12/16 TO REPURCHASE UP TO $500 MIL WORTH OF CLASS V COMMON STOCK

OUTSTANDING.

SHORT INT 2.5 DAYS+175%OPTIONS ONUP/DOWN 1.8EX-DIVYIELD





65.78 65.28

69.72

77.69

46.63

62.24

59.92

62.73

92

QTR 3QTR 2

QTR 1

QTR 4

40

50

60

70

80

PRICE SCALE

96COMPOSITE RATING

11$121314 -4.21 $15 -3.0116 3.43 57 4517 8.8018 5.05 EST -43% ↑

EARNINGS (JAN) HI LOLogitech LOGI 87 94HP Inc HPQ 84 27Xerox XRX 78 30Canon CAJ 65 78Ingenico S INGIY 59 82




3.20 VS 0.96 +233%16247 VS 12674 +28%

N/A 12X -- 11X

3.56 VS 1.25 +185%20074 VS 12679 +58%

N/A 13X -- 8X

3.04 VS 0.86 +253%17816 VS 12241 +46%

N/A 10X -- 7X

4.30 VS 1.18 +264%19299 VS 13080 +48%

N/A 8X -- 5X

EPS DUE 12/8 QUARTER ENDED OCT 31,16 QUARTER ENDED JAN 31,17 QUARTER ENDED APR 30,17 QUARTER ENDED JUL 31,17

R S LINE VS SP500

VOLUME

400 K

1.2 M

3.5 M

19

Marketsmith.com // 2017 Q4 l ScreensAbbVie Inc (ABBV)

Gardner Denver Holdings (GDI)

ABBVIE INC(ABBV) NYSE 1,594.1 SHRS / 1,578.2 FLT / AVG VOL 6.70MIL $88.86(OH -2%)MEDICAL-ETHICAL DRUGS abbvieinvestor.com

DEVELOPS HUMIRA AND OTHER PHARMACEUTICAL AND BIOLOGIC TREATMENTS FOR RHEUMATOID ARTHRITIS, PSORIASIS, CROHN'S DISEASE, 9/17 ANNOUNCED POSITIVE TOP-LINE RESULTS FROM PHASE III STUDY OF VENETOCLAX,

TREATS PATIENTS WITH LYMPHOCYTIC LEUKEMIA

SHORT INT 4.2 DAYS +8%OPTIONS ONUP/DOWN 2.0EX-DIV 10/12YIELD 2.9%


DEBT 786%NEW CEOTIMELINESS BACC/DIST ASMR RATING A



65.05 64.5066.79 67.50

73.6775.04

55.06

59.27

63.1264.61

69.38 69.47

91

QTR 3QTR 2

QTR 1

QTR 4

50

60

70

80

90

PRICE SCALE

97COMPOSITE RATING

11$ 2.18∆ $12 3.35∆13 3.14 54 3314 3.32 70 4515 0.04 71 4516 4.82 68 5017 5.52 EST +15% ↓18 6.53 EST +18% ↑

EARNINGS (DEC) HI LOAkceaThera AKCA 99 15Kindred Bi KIN 88 8NovoNrdsk NVO 85 77Protagonst PTGX 85 5Grifols B GRFS 82 85




1.21 VS 1.13 +7%6432 VS 5944 +8%$0.57 15X -- 13X

1.20 VS 1.13 +6%6796 VS 6400 +6%$0.57 14X -- 12X

1.28 VS 1.15 +11%6538 VS 5958 +10%$0.64 14X -- 12X

1.42 VS 1.26 +13%6944 VS 6452 +8%$0.64 15X -- 13X


R S LINE VS SP500

VOLUME

3 M

6.5 M

12.5 M

GARDNER DENVER HOLDINGS(GDI) NYSE 196.0 SHRS / 192.0 FLT / AVG VOL 642894 $27.52(OH 0%)MACHINERY-GEN INDUSTRIAL gardnerdenver.com

DESIGNS AND MANUFACTURES INDUSTRIAL COMPRESSORS, BLOWERS, PUMPS, LOADING ARMS, FUEL SYSTEMS AND OTHER AFTERMARKET PARTS. 8/17 EXPECTS 2017 ADJUSTED EBITDA OF $510 MIL TO $530 MIL.



DEBT 1036%NEW CEOTIMELINESS AACC/DIST BSMR RATING D

20.28 X BK VALUEINVENTORY TO. 4.2XR&D N/ARET ON EQUITY 6%CASH FLOW $0.99

FUNDS 13%BANKS 0%MGMT 2%ALPHA N/ABETA N/A

24.55 24.34

19.91

21.76

90

QTR 3QTR 2

QTR 1

QTR 4

16

18

20

22

24

26

28

30

PRICE SCALE


11$12 -1.34 $13 -0.0114 -0.6915 -1.7916 -0.1117 1.17 EST ↑18 1.46 EST +25% ↑

EARNINGS (DEC) HI LOEnviroStar EVI 98 56IntriCon IIN 97 36Kadant KAI 96 87SunHydrlcs SNHY 94 84Graco GGG 92 95




-0.06 VS -0.45 N/A462.6 VS 523.6 -12%N/A N/A

-0.06 VS -0.45 N/A577.7 VS 520.1 +11%N/A N/A

0.10 VS 0.09 +11%481.7 VS 437.1 +10%N/A N/A

0.22 VS 0.13 +69%579.1 VS 462.0 +25%N/A 223X -- 181X


R S LINE VS SP500

VOLUME

350 K

1 M

3 M

20

One of MarketSmith’s most powerful tools is also one of its most

elementary—the Weekly Chart. These charts provide you with all the

information that you need to make a decision on a stock. But beneath

an interface familiar to almost every investor, you’ll fi nd a wealth of

information and analysis that sets MarketSmith apart from the crowd.

Proprietary ratings based on IBD’s expert analysis.

We don’t just offer the same public stock data that you can fi nd anywhere.

Every MarketSmith chart offers analysis above and beyond the raw

numbers (though we have those too). For example, our experts have

analyzed all the data and compiled it into an overall Composite Rating

to give you an at-a-glance look at a stock’s overall health. Similarly, our

Relative Strength and Accumulation/Distribution ratings offer valuable

insight compressed into a single score.

MarketSmith Features Highlight: Weekly Chart

21

Pattern Recognition algorithms.

The cup-with-handle. The fl at base. The double base. If you’re familiar with

these common stock chart patterns, you know they very often precede a

growth stage in stocks. They’re easy to recognize after the fact, but to many

investors they can be hard to spot in real time. With our highly advanced

algorithms, MarketSmith can spot these growth-predicting patterns as they

happen, allowing you to get in earlier on potential winning investments.

The long view that prevents short-term thinking.

Intraday charts can look downright chaotic these days. High-frequency

(“fl ash”) trading conducted by computer scripts can expose a stock to huge

swings, causing everyday investors to get “shaken out” of their positions.

Overreacting to volatility can sharply limit your profi ts, since you’re not

buying and selling at the optimal points. A weekly chart minimizes volatility

and gives the best view of the long-term trend of a stock.

22

Getting Started with MarketSmith

MarketSmith offers a powerful set

of investing tools, but where do you

go if you’re still learning? Sign in to

MarketSmith and you’ll be taken

to our Member Page. Locate the

“Getti ng Started” section, just under

“Interpreti ng the Market.” Check

out an overview video, our quick

reference guide, and our “Becoming a MarketSmith” in-depth guide.

__________________________________________________________________________________

Weekly Market Updates

Don’t miss our weekly Take on the Market video,

hosted by our senior product coaches. They’ll

discuss current market activity, the behavior of

leading stocks, and strategies for staying on the

right side of the action. View every Friday at:

marketsmith.investors.com/webinar

youtube.com/user/marketsmith1

__________________________________________________________________________________

Video Tutorials to Sharpen Your Investing Skills

From fundamental analysis to technical chart reading, Investor’s Business

Daily® and MarketSmith offer comprehensive libraries of investing and

stock research videos designed to help you

make more money in the market. Hosted

by IBD experts and MarketSmith product

coaches, you can fi nd our video library at:

Investors.com/MStutorial

Resources

23

Follow us for exclusive offers, giveaways and stock investing tips.

Get actionable investing content, unique fi nancial stories and

live videos with market updates on our Facebook page.

______________________________________________________________________

Get real-time updates on the stock market throughout the day

on Twitter. Tweet us @MarketSmith with your thoughts on the

market.

______________________________________________________________________

IBD’s StockTwits allows you to connect with other stock traders

to get tips on growing your portfolio.

______________________________________________________________________

Reach out and network with the IBD and MarketSmith teams on

LinkedIn to get in-depth investing knowledge.

______________________________________________________________________

Check out Friday’s video market update for our take on the

market action in the week that was. Plus, you’ll fi nd timely tips

for your stock research routine.

______________________________________________________________________

Our Instagram gives you a behind-the-scenes look at how the

IBD and MarketSmith teams work to help you succeed in the

market.

Connect with Us

JOIN US FOR THE MARKETSMITH LAB AFTER THE TRADING SUMMITOur product coaches will discuss the current market action and then share custom real-time screens to identify winning stocks using MarketSmith. They will also answer your specific questions about MarketSmith or investing in general.

Reserve a spot in your area now at investors.com/tradingsummit

(800) 831-2525

AT THE IBD TRADING SUMMITMARKETSMITH LAB

Copyright © 2017 Investor’s Business Daily, Inc., Investor’s Business Daily, IBD, CAN SLIM, and corresponding logos are registered trademarks owned by Investor’s Business Daily, Inc. MarketSmith is a registered trademark of MarketSmith, Incorporated.

The material contained herein is not to be reproduced, redistributed, published, stored in a retrieval system, or transmitted in any form or by any means, electronic mechanical, photocopying, recording, or otherwise, without prior written permission of Investor’s Business Daily, Inc. and MarketSmith Incorporated.

Data provided under license agreement by William O’Neil + Co. Incorporated. All material presented here has been obtained or derived from sources believed to be accurate, but Investor’s Business Daily, Inc., MarketSmith Inc., and William O’Neil + Company, Inc. do not guarantee its accuracy and it may possibly be incomplete and/or condensed. The contents are based on the study and interpretation of available data as it relates to our historical models of the best performing stocks. This is not a prospectus; no effort on our part with respect to sale or purchase of any securities is intended or implied. Any chart appearing in this material is for educational purposes and is not, and should not be construed as a recommendation or rating to buy or sell any security. It is possible that at this date or some subsequent date the officers, directors and/or shareholders of William O’Neil + Company, Inc., MarketSmith Inc. and Investor’s Business Daily, Inc. and their affiliates own securities or buy or sell securities listed in the following pages or those not mentioned.

Standard & Poor’s US Index Data

Copyright © 2017, Standard & Poor’s Financial Services LLC (“S&P”). Reproduction of S&P US Index Data in any form is prohibited except with the prior written permission of S&P. Because of the possibility of human or mechanical error by S&P’s sources, S&P or others, S&P does not guarantee the accuracy, adequacy, completeness, timeliness or availability of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. S&P GIVES NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. In no event shall S&P or its affiliates be liable for any indirect, special or consequential damages in connection with subscriber’s or others’ use of S&P US Index Data. (2012)

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PUZZLED - MarketSmith · turned-investor Nicolas Darvas was able to enjoy great success in the...

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