Today's Video Newsletter: Chavez is dead, the DOW hits new highs, and nobody is cheering

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Wednesday, the 6th of March.

Venezuela's oil could be a game changer for this one stock. Hugo Chavez is dead. Venezuela's State run energy, PDVSA, is in shambles. Inflation running at a 25% annually. Venezuela has more oil reserves than Saudi Arabia. And lastly, Venezuela has some of the biggest offshore oil reserves in the world, which brings us to...

TransOcean (RIG)

Here are two scenarios that could help TransOcean's stock price in the future.

1. Venezuela wakes up and decides that it needs more help to develop its offshore oil reserves, the largest in the world (bearish for oil prices, good for TransOcean)

2. Economies around the world improve, meaning that the demand for crude oil and energy will remain strong. (bullish for oil prices, good for TransOcean)

Either scenario means that drilling platforms like TransOcean will be more in demand and be able to charge a premium for their services.

Technical outlook: TransOcean has also broken above a long-term downtrend line, indicating that the downward trend is over and signaling that it should be moving higher. Long-term monthly Trade Triangle is positive. Target of $75-$85, trading around $53.50.

CNBC ASIA

Last night I appeared on CNBC ASIA if you missed that show you can watch it here .

STOCKS WORTH LOOKING AT TODAY:

Netflix (NFLX) - Growing customer base. The technical trend is positive. The world of entertainment is moving into the home and onto the tablet with on-demand-anywhere services. Target of $220-$250, trading around $180.00.

Google (GOOG) - #1 in Smartphones, #1 in search. The technical trend is positive. Wearable Google Glasses technology. Target of $900, trading around $830.00.

Amazon (AMZN) - The clear leader in online commerce. With over 2 million customers, they continue to dominate the space. The technical trend is positive. Target of $300-$320, trading around $271.00.

PAY CLOSE ATTENTION TO:

WISDOMTREE INDIA EARNINGS (EPI) is the ETF that we use to track the Indian economy.

iSHARES MSCI ITALY INDEX (EWI) is the ETF that we use to track what is going on in Italy.

MORE CHAOS AHEAD

March 27th - Budget Resolution Expires

May 19th - Debt Ceiling Suspension Expires

Have a great trading day, see you tomorrow.

Adam Hewison

President, INO.com

Co-Creator, MarketClub

Click Here to view today's video

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