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July 10 – Stock mentions: SPY, TSLA, MU, NFLX, AMD
Michael Kramer and the clients of Mott Capital own NFLX and TSLA
US Markets
- S&P 500 Futures are up 6 points
- US 10-Year Treasury 2.05%
- Dollar Index 97.20
- Oil $59.22
- VIX 13.86
International Markets
- Japan Nikkei -0.15%
- China Shanghai -0.44%
- Hong Kong HSI +0.31%
- South Korea KOSPI +0.33%
- Germany DAX -0.40%
- UK FTSE -0.01%
Trading Day for July 10
S&P 500 Futures are trading slightly high on July 10 placing the index about 10 points from 3,000. I continue to believe this is a market that wants to work its way higher. Powell’s testimony confirmed the view from the Fed meeting in June that indicated the Fed would act as appropriate. It is likely enough to confirm that the Fed will cut rates in July.
The testimony will be what the ammunition S&P 500 needs to push the index over 3,000.
Bond yields are confirming this bullish view for equities, with a move down to 2.05%
Well this has become my favorite chart of all in recent days, and you might not like me for this, but you will have to tune in at 12 PM and watch my live webinar to find out why!
Tesla (TSLA)
Tesla shares are rising today after an email leak showed the company is getting ready to ramp-up production. The stock is moving higher on July 10 following report. My outlook for the stock hasn’t changed and still believe the stock is heading towards the $250 to $260 range.
Micron (MU)
Micron is continuing its advance, and with the stock trying to rise above $42, $44 could be the next stop.
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Netflix (NFLX)
Netflix will try to break out again today. The stock has stalled on multiple occasions in the past around $380 to $385 level. When will it finally break out and move on to $405?
AMD (AMD)
AMD is advancing again today, and $34.50 is the next significant level to watch.
-Mike
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This report contains independent commentary to be used for informational and educational purposes only. Michael Kramer is a member and investment adviser representative with Mott Capital Management. Mr. Kramer is not affiliated with this company and does not serve on the board of any related company that issued this stock. All opinions and analyses presented by Michael Kramer in this analysis or market report are solely Michael Kramer’s views. Readers should not treat any opinion, viewpoint, or prediction expressed by Michael Kramer as a specific solicitation or recommendation to buy or sell a particular security or follow a particular strategy. Michael Kramer’s analyses are based upon information and independent research that he considers reliable, but neither Michael Kramer nor Mott Capital Management guarantees its completeness or accuracy, and it should not be relied upon as such. Michael Kramer is not under any obligation to update or correct any information presented in his analyses. Mr. Kramer’s statements, guidance, and opinions are subject to change without notice. Past performance is not indicative of future results. Neither Michael Kramer nor Mott Capital Management guarantees any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment commentary presented in this analysis. Strategies or investments discussed may fluctuate in price or value. Investments or strategies mentioned in this analysis may not be suitable for you. This material does not consider your particular investment objectives, financial situation, or needs and is not intended as a recommendation appropriate for you. You must make an independent decision regarding investments or strategies in this analysis. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Before acting on information in this analysis, you should consider whether it is suitable for your circumstances and strongly consider seeking advice from your own financial or investment adviser to determine the suitability of any investment.
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