April 9, 2019

Michael Kramer and the clients of Mott Capital own Apple and Disney

US Trading

• S&P 500 -2 points
• US 10-Year Yield 2.51%
• Oil $64.62
• VIX 13.39
• Dollar Index 96.92

International Trading

• Japan Nikkei +0.19
• China Shanghai -0.16%
• Hong Kong HSI +0.27%
• South Korea Kospi +0.13

Global Growth Proxies

• Copper $2.9515
• Silver $15.25
• Platinum $906.30
• Semiconductor SOX Index 1,481.38

Key News

• The US is threatening $11 billion in tariffs versus the EU against Airbus subsidies

US Trading

S&P 500 (SPY)

The S&P 500 is gearing up for a potential rise today, despite the futures being slightly lower. The index broke above a resistance level at 2,891. It would suggest the index continues to move higher towards 2,915.

Consumer Discretionary (XLY)

The discretionary stocks are also nearing a pretty big break out of own, which could send the ETF to a record high.

Costco (COST)

Costco saw its price target rise to $265 from $250 at Telsey. The stock is trading around an all-time high, and it may a bit overbought here, with the potential to pull back to around $225.

Disney (DIS)

Disney continues to move higher, and it is inching a big break out. The company has its investors day on April 11. The stock was upgraded to outperform from market perform at Cowen.  I wrote this yesterday on Disney.  Disney’s Investor Day: A Catalyst For The Stock?

Roku (Roku)

Roku fell through support yesterday, and I fear it is now in danger of dropping to around $52. The RSI is starting to trend lower too, which would suggest momentum is moving out the stock.

Alibaba (BABA)

Alibaba continues to look strong, and should it rise above $188 it likely continues up to around $209.

Amazon (AMZN)

Amazon is also nearing a break out at $1850 which could result in the stock rising to around $1900.

Apple (AAPL)

Apple is trading above $200 this morning and continues to be on a path to $209.

That’s going to be it.

-Mike

Photo from Flickr

Mott Capital Management, LLC is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Past performance is not indicative of future results.