This column is my opinion and expresses my views. Those views can change at a moments notice when the market changes. I am not right all the time and I do not expect to be. I disclose all my positions clearly listed on the page, and I do not trade my account on the stocks spoken of in this column unless fully disclosed. If that does not work for you stop reading and close the page. Do not bother me or harass me.
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Week of August 12: Stocks to watch AAPL, AMD, UBER, BAC, CRM
Michael Kramer and the clients of Mott Capital own AAPL
Here is a list of some more stock market predictions for the week of August 12.
First, 2 housekeeping items:
- The Monster Stock Market Commentary crossed a major milestone yesterday. The twice a day email now goes out to over 1,800 people. As well, as over 750 users on push notifications. Amazing. I started this commentary in August of 2017 with Zero! Thank you! It serves as a reminder to everyone that you never what your potential is until you try!
- I will be a presenter at StockTwit’s Stocktoberfest West in Coronado, California this September. BTW for those of you on Stocktwits, I have a premium room which you are welcome to check out. The first two weeks are free.
Now on to stock to stuff.
Weekly Podcast Segment: Fundamentals Will Support Stock Prices
It feels like every time Apple’s stock gets going some new tariff worries pop up that crash the stock. If there is a good piece of news, it is each time the stock crashes lower; the new low is higher than the previous one. We should also remember that new iPhone cycle will allow the company to reprice their phones and hopefully adjust for any potential tariffs on the way, and can allow AAPL to push past $209 again.
A Seeking Alpha Market Place Reading The Market Premium Article: Your Equity Market Survival Guide For The Week Of August 12
AMD broke above $34.50 on Friday only to close below it by the end of the day. Now there is a giant gap that needs to be filled at $29.40.
Uber fell sharply following its results but managed to close well off the lows. I still think this one heads lower towards $36.
Bank Of America (BAC)
Bank of America is looking weak as are most bank stocks. I noted mid-week I saw a lot of put buying on the stock. I’m thinking $25.75 is possible, maybe not this week, but in the weeks ahead. Here is the premium article where I break down all of the options activity I noticed. Big Bets Bank Of America’s Stock Plunges and along with an audio explain for those not familiar with options.
Salesforce has been performing poorly. I had noted in a premium article on July 30, the stock looked very weak, along with some bearish options bets. Now the stock is testing resistance at $144. The stock needs to hold above $138 or could see a decline to $115. Salesforce Seeing Bearish Options Betting
However, the bad news is that the open interest for the September 20 $145 calls saw their open levels rise by over 16,600 contracts on August 5. The bad news is that calls looked as if they were sold, for $7.10 per contract. It would at the very least suggest someone is betting the stock stays below $152 by the expiration date. I did an instructional video on how to figure this out yourself a few weeks ago for premium subs. Options 101: Did They Buy Or Sell?
Anyway, enjoy your Sunday!
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.