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Sports

Penn State captures four national titles in 2021 NCAA Wrestling Championships

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(Photo: Penn State Athletics, 247Sports)

1st round vs. No. 18 Jacob Koser (Navy): W – 14-4 (major decision)

Beard worked quick and earned the takedown to take a 2-0 lead early in the first. With a turn and nearfall points, Beard built his lead to 6-0 as the first period came to a close. In the second, with Beard starting down, he earned the reversal to take an 8-0 lead. Koser eventually worked his way to an escape to cut the lead 8-1. A takedown for Beard made it 10-1. Starting neutral in the third, Beard earned another take down while Koser got out for one, making it 12-2. Koser added to his total with a takedown, making it 12-4. Beard earned another escape.

2nd round vs. No. 31 Owen Pentz (North Dakota State): W – 17-8 (major decision)

Beard earned the first takedown to take the lead 2-0 before giving up an escape. That same would happen again as Beard led 4-2. The first period continued with flurries as Beard built an 8-4 lead. Pentz earned an escape in the second period starting on bottom to cut the lead 8-5. Another Beard takedown followed by an escape made it 10-6. Beard earned another takedown before the end of the period, making it 12-6. They started in neutral to begin the third period. Another takedown and escape exchange made it 14-7. Must be a takedown party because it happened again, making it 16-8. Bear advanced to the quarterfinals with the win.

DAY TWO

Quarterfinals vs. No. 26 Jake Woodley (Oklahoma): L – 8-3 (decision)

Beard gave up the first takedown but eventually managed to escape and cut the lead 2-1. An escape for Beard in the second tied the match but Woodley landed another takedown to take a 4-2 lead. Woodley started the third period on bottom and earned the escape for a 5-2 lead. Another takedown and escape combo put Woodley up 7-3 late in the match. Beard fell to the wrestleback rounds with the loss.

Blood round vs. No. 13 Tanner Sloan (South Dakota State): W – 9-1 (major decision)

Beard worked his way for the first takedown of the match for a 2-0 lead. He worked a turn as well to get four nearfall points and 6-0 lead heading into the second period. No score change in the second as Beard maintained his lead and accumulated over four minutes of riding time heading to the third. An escape for Sloan gave him a point, but Beard landed another takedown and had over five minutes of riding time. Beard clinched All-American status.

Consolation quarterfinals vs. No. 7 Rocky Elam (Missouri): L – 5-0 (decision)

Beard failed to find his offense in the first period as they finished scoreless. Elam got the escape and then a takedown in the second period to take a 3-0 lead. Elam pushed it to a 5-0 lead with nearfall points. He kept the lead through the third period and got the win, dropping Beard to the 7th place match.

7th place match vs. No. 8 Stephen Buchanan (Wyoming): W – 10-8 (decision, sudden victory)

Early in the first period, Beard landed a takedown and managed to take Buchanan to his back for nearfall points. He took a 4-0 lead. He eventually drew stalling calls to go up 5-0. Buchanan hit a reversal to cut the lead 5-2. At the start of the second period, Beard gave up an escape and then a takedown as the match was tied 5-5. Late in the second, Beard hit a reversal to go up 7-5 but Buchanan got a quick escape to make it 7-6. Beard escaped to start the third period but Buchanan landed a late takedown to tie it 8-8 and send it to sudden victory. In overtime, Beard attacked and finished off a beautiful takedown for the win and 7th place finish.



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Business

Dow Jones Futures: Stock Market Rally Taking Flight, VW Powers Up Vs. Tesla; NXP Semi, Penn National Join S&P 500

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Dow Jones futures will open on Sunday evening, along with S&P 500 futures and Nasdaq futures. The stock market remains split, but the rally is broadening out significantly, with more and more stocks from a variety of sectors breaking out.




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The one notable exception is Nasdaq and growth  stocks, but even they had a tentatively positive week.

Delta Air Lines (DAL), Las Vegas Sands (LVS) and Marriott International (MAR) are among several travel stocks setting up bullishly in similar patterns, with United Airlines (UAL) already clearing a fresh buy point.

Volkswagen (VWAGY) will hold a battery-focus Power Day event before U.S. markets open on Monday, akin to Tesla’s Battery Day last year. VW earnings are due Tuesday, while the ID.4 crossover launches in China and the U.S. later this month. VW is leading the charge of traditional automakers rushing into electric vehicles. All of that could pressure Tesla sales and prices, as well as Tesla stock. VW stock has been soaring in recent months, outpacing fast-rising General Motors (GM) and Ford Motor (F).

Swing Trade Ideas Can Turn Into Position Trades On Strength

S&P 500 Additions

Finally, NXP Semiconductors (NXPI), Penn National Gaming (PENN), Generac Holdings (GNRC) and Caesars Entertainment (CZR) are set to join the S&P 500 index before the open on March 22. The stocks rose 3%-7% late Friday on the S&P 500 news. NXP stock could offer a buying opportunity as it bounces from its 10-week line, while Penn National, Genera and Caesars don’t appear actionable.

Generac and GM stock are on IBD Leaderboard. Generac stock and Tesla are on the IBD 50 list.

Dow Jones Futures Today

Dow Jones futures will open at 6 p.m. ET, along with S&P 500 futures and Nasdaq 100 futures.

Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

Join IBD experts as they analyze actionable stocks in the stock market rally on IBD Live.

Coronavirus News

Coronavirus cases worldwide reached 119.60 million. Covid-19 deaths topped 2.65 million.

Coronavirus cases in the U.S. have hit 29.99 million, with deaths above 545,000.

Stock Market Rally

The stock market rally continued to strengthen and broaden over the last several days, with the Dow Jones, S&P 500 and Russell 2000 hitting all-time highs.

The Dow Jones Industrial Average rallied 4.1% in last week’s stock market trading, hitting a record high the past four sessions. The S&P 500 index advanced 2.6% while the Russell 2000 surged 7.35%. The Nasdaq composite climbed 3.1%.

The 10-year Treasury yield jumped to a fresh 13-month high, up 10 basis points Friday to 1.63%.

Among the best ETFs, the Innovator IBD 50 ETF (FFTY) spiked 8% last week and the Innovator IBD Breakout Opportunities ETF (BOUT) leapt 9.6%, both easily reclaiming their 50-day lines.  The iShares Expanded Tech-Software Sector ETF (IGV) climbed 2.7% and the VanEck Vectors Semiconductor ETF (SMH) edged up 0.9%. both below their 50-day lines.

Reflecting more-speculative story stocks, Ark Innovation ETF vaulted 8.2% and Ark Genomics ETF 7.8%, but both are far below their 50-day lines.

Read The Big Picture every day to stay in sync with the market direction and leading stocks and sectors.

Swing Trade Ideas Can Turn Into Position Trades On Strength

VW Power Day

Monday’s VW Power Day is Volkswagen de facto answer to last year’s Tesla Battery Day, but without a yearlong buildup. . It’s expected to detail its battery and infrastructure strategy, possibly showing off advances in pack or cell technology.

On Tuesday, VW will release full-year figures.

VW stock has surged 19% so far in March, hitting its best level since 2009, as investors buy into its EV strategy. GM stock and Ford are both up 15% this month. VW and Ford are greatly extended. GM stock cleared a messy consolidation Friday, but at 15% above its 50-day line it also seems extended.

Tesla stock is up 2.7% in March and 16% last week. But it’s been hitting resistance at its 21-day exponential moving average and still well below its 50-day line. Many highly valued growth stocks look similar to TSLA stock’s chart.

Stock Market Analysis

The stock market continues to have a split personality with the Dow Jones, S&P 500 and Russell 2000 at new highs while the Nasdaq is just below its 50-day line.

Economic reopening plays are doing well, including mining, manufacturing, travel, transportation, various retailers and more.

And no wonder. The U.S. economy is going to shift from a massive recession to a huge economic boom in about a year. Coronavirus restrictions are waning as vaccinations pick up and cases decline, fueling a return to normal activity, including long-dormant travel. Meanwhile, the $1.9 trillion Biden stimulus just passed with $1,400 checks for most Americans rolling out, weeks after a more-modest Covid aid package with $600 checks.  The White House and congressional Democrats are setting their sights on an even-bigger spending bill later this year, with trillions of dollars for infrastructure.

Just to highlight travel stocks, Trip.com (TCOM) surged past a three-weeks-tight pattern on Friday. The three-weeks tight is just above a prior base, so it offered an opportunity for investors to add shares or start a new position in TCOM stock. United stock peeked out of a similar short consolidation — though not a tight pattern — slightly above a base.

Delta stock, Marriott, Hilton (HLT) and Hyatt (H) are setting up in their own shelves. So is Las Vegas Sands stock, which has a three-weeks tight that looks messy on a daily chart but is extremely tight on a weekly.

Nasdaq Lagging, But Not Losing

The Nasdaq did have a solid gain last week, closing near the high of its weekly range after starting with a 2.4% tumble on Monday. On Friday, the Nasdaq did dip back below its 50-day as Treasury yields soared. But it held up relatively well, closing down just 0.6% on Friday, at session highs.

The Nasdaq still hasn’t confirmed that its rally attempt has legs and remains vulnerable to spiking Treasury yields. A Nasdaq follow-through day would ease fears that tech stocks would drag the broader market lower, as they did earlier in March.

But even if the Nasdaq rebounds, growth names still look damaged. An immediate rush back to new highs for Tesla stock or other highly valued names would not look normal. Also remember that Tesla and a lot of these stocks went on amazing runs last year. So there are multiple reason why they may need weeks or months to set up again in proper bases.

What To Do

The good news about the split market is that while growth stocks are on injured reserve, many economic recovery stocks have been breaking out and delivering strong gains.

So investors don’t have to sit on the sidelines. While CAN SLIM investors gravitate toward growth stocks for obvious reasons, many “model book” all-time winners have been turnaround plays. You need to be flexible, and recognize which stocks are working and which are not.

Look for stocks with strong relative strength. Pay close attention to those with robust earnings estimates and those that are setting up in sound bases.

If you don’t feel comfortable buying non-growth stocks, you could buy and ETF such as SPY, IWM or various sector plays such as XME (mining), JETS (airlines) or XHB (homebuilders). And you could always stay in cash until tech stocks truly recover.

Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.

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World

Sean Penn rips COVID vaccine site staffers who complained

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Sean Penn lashed out at employees of his nonprofit who are helping administer COVID-19 vaccines in Los Angeles after two of them complained about work conditions online.

The Oscar-winning actor wrote a scathing 2,200-word email to staffers Friday, in which he accused the unnamed pair of “obscene critiques” and said they should quit, The Los Angeles Times reported.

“To whoever authored these, understand that in every cell of my body is a vitriol for the way your actions reflect so harmfully upon your brothers and sisters in arms,” Penn wrote in the letter, which was leaked to the Times.

The missive came after two people who said they worked for Penn’s organization, Community Organized Relief Effort, commented on a Jan. 28 New York Times story that described a day at the Dodger Stadium mass vaccination site.

One self-described “CORE staff” member said the employees were overworked after LA Mayor Eric Garcetti switched the stadium from a virus testing site to a vaccination center. 

The staffers work 18-hour days, six days per week, “without the opportunity to take breaks,” the person wrote.

Sean Penn wrote a scathing 2,200-word email to staffers on Jan. 29, 2021, in which he accused the unnamed pair of “obscene critiques” and said they should quit.
ANDR / BACKGRID

The other anonymous scribe complained that the article said site workers got “Krispy Kreme for breakfast and Subway for lunch.”

“We usually DON’T get breakfast, just coffee,” the person wrote, adding that the lunch was “NOT” Subway but “the same old lettuce wraps every day. It’s free lunch for staff/volunteers so I’m not complaining but still… not Subway.”

In his seething email, Penn, 60, described his “grave concern” over the comments, which he bashed as a “broad betrayal of all,” the LA Times reported.

He said the “shameful entries” were “highly visible,” though they are part of at least 150 reader responses to the NY Times article.

Penn said that CORE — which he co-founded after the 2010 earthquake in Haiti — has “strong complaint procedures and endless other internal avenues for productive criticism” from staffers.

Anyone “predisposed to a culture of complaint” and “broad-based cyber whining” should just quit, he added.

“It’s called quitting,” Penn wrote. “Quit for CORE. Quit for your colleagues who won’t quit. Quit for your fellow human beings who deeply recognize that this is a moment in time. A moment of service that we must all embody sometimes to the point of collapse.”

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Sports

Penn State assistant Tyler Bowen joining Urban Meyer in Jacksonville

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Penn State tight ends coach Tyler Bowen will join Urban Meyer’s staff with the Jacksonville Jaguars, sources have confirmed to Lions247. Bowen spent the last three seasons with the Nittany Lions after previous coaching stops at Maryland and Fordham. Before that, he was a graduate assistant under James Franklin at Penn State in Franklin’s first season in Happy Valley.

He’s expected to officially be named to Meyer’s new staff later this week.

Penn State’s tight end room has made big strides under Bowen over the last three seasons. Much of that came through the development of All-Big Ten performer Pat Freiermuth, who moved into a starting role as a true freshman in Bowen’s first season in 2018 and won the conference’s Tight End of the Year Award in an abbreviated junior season in 2020. Freiermuth, who caught 92 passes for 1,185 yards and a school-record 16 touchdowns in 30 career games, declared for the NFL Draft in December.

The Nittany Lions were able to reshape their tight end room under Bowen. Penn State signed four-star Brenton Strange out of West Virginia in the Class of 2019, then inked a pair of tight ends in Theo Johnson and Tyler Warren in the next cycle. Johnson was the No. 3 tight end in the Class of 2020 and both played as true freshmen. Pittsburgh-area standout Khalil Dinkins, a four-star prospect by 247Sports, signed with the Nittany Lions in December and Penn State has a pair of four-star tight end commitments in the Class of 2022 in Wisconsin native Jerry Cross and Georgia standout Holden Staes.

Stange and Johnson came into their own in 2020 after Freiermuth underwent season-ending surgery midway through the year. Strange caught 17 passes for 164 yards and two scores, while Johnson caught four passes for 56 yards and passed redshirt sophomore Zack Kuntz on the depth chart.

Bowen is the Nittany Lions’ top-rated staff member in the Class of 2021 Recruiting Rankings. He’s credited with four commitments in the cycle and was instrumental in landing four-star offensive lineman Landon Tengwall. He was the No. 7 recruiter in the Big Ten in the Class of 2020. Bowen’s recruiting area centered in Maryland and in the Washington DC Metro area.

A rising star in the coaching industry, Bowen was a member of 247Sports’ 30 Under 30 back in 2018. Before coming to Happy Valley, he coached for one season under Joe Moorhead at Fordham as the offensive line coach and took over offensive coordinator responsibilities when Moorhead moved to Penn State. He coached Maryland’s offensive line in 2017 before accepting the position with Penn State.

He served as Penn State’s interim offensive coordinator in the Nittany Lions’ 53-39 win over Memphis in the 2019 Cotton Bowl. He added a co-Offensive Coordinator title after the 2019 season and was the program’s offensive recruiting coordinator.

Bowen played three seasons under Franklin as an offensive lineman at Maryland.



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