Quick Win by the Algorithm

Stone Energy Corporation (SGY)

On June 28th, 2016, the I Know First algorithm gave a bullish signal of 157.07 for the ticker SGY with a predictability indicator of 0.29. In accordance with the algorithm’s prediction, SGY experienced a quick win of 174.49% increase in stock price in only 14 days.

Stone Energy Corporation (SGY), an independent oil and natural gas company, engages in the acquisition, exploration, exploitation, development, and operation of oil and gas properties in the Gulf of Mexico.

I Know First has been following SGY closely since the middle of May when the algorithm accurately predicted that the stock would decrease. The algorithm was correct and between May 10-May 17, the price of the stock decreased by 48.14%.

The algorithm then predicted a large rise in the price of SGY at the end of June. Since then, the price of crude oil on July 1st plummeted which led to a large drop in SGY’s stock price. After that drop, SGY rebounded from July 6th to 9th. This was a result of a contract Stone Energy terminated with Ensco which released them from a long-term deep water rig commitment and 15 million dollars of debt and allowed them to sign a deal with Williams. Subsequently, 2.92 million shares were traded on July 5th. On July 12th, the price of a barrel of crude oil rose about 3% which caused SGY to skyrocket further. Overall, SGY increased 174.49% over the last 2 weeks as predicted by the I Know First Algorithm.