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September 6, 2020
STOCKS – None
Macro – SPY, GLD, EWG, UUP, TLT
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- This Pullback May Be Different
- We Will Find Out Fast What Happens Next
- A Drop To 2860 On The S&P 500 Is A Real Possibility
- AMD May Fall 11% More
- Stock Market Comes To Critical Moment
- Stocks Set To Sell-Off Morning Commentary
- The NASDAQ Just Hit That Level Again – Midday
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN TSLA AND AAPL
MICHAEL KRAMER HAS QQQ PUTS
Nasdaq 100 (QQQ)
The Nasdaq futures are trading down about 1% today, following last week’s sell-off, and the futures find these sitting on the uptrend, which has been so critical to this big rally.
To this point, this uptrend has held, despite being tested multiple times over the past few days. A break of this uptrend would be horrible news and would likely send the futures down another 5.5% to around 10,870.
At this point, the RSI is now moving lower and suggesting more decline for the NASDAQ 100.
VISIT THE MONSTER MARKET COMMENTARY STORE!
Tesla (TSLA)
Tesla didn’t get into the S&P 500, at least during this round, and the stock is trading lower in Germany, with a dollar equivalent of around $390, which is down from Friday US close of $418. A drop below $390 sets up a decline to about $372. The $372 level is essential because there is no support after that until $331.
Apple (AAPL)
Apple is also trading lower in Germany today, to $119.29 in USD equivalents, and the stock needs to stay above that $115 level of support. I continue to think it is like heading lower towards $109.
Amazon (AMZN)
Amazon is also trading down by about 1% in Germany today, but the level of comes at that uptrend, with a break likely resulting in a drop to $3,100.
AMD (AMD)
AMD had a tough week, and this week isn’t likely to be any easier, with the potential to drop back to $71.70.
Have a happy labor day!
-Mike
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.
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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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