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June 24 – Stock Mentions: ORCL, CSCO, INTC, AMD, BYND, GOLD, DOLLAR
Michael Kramer and the clients of Mott Capital own CSCO
It was a tranquil June 24, with equity markets going pretty much nowhere. It is just a continuation of what we saw last week. My hunch is that it will be a quiet week in general, especially ahead of the uncertain G20 summit.
S&P 500 (SPY)
I do continue to believe that next move higher for the S&P 500 is higher. (premium content: Stocks Still Look Very Strong)
Dollar Index (DXY)
So while everyone was paying attention to the Mexican tariffs, I told my subscriber that the most important thing that was happening was the break down of the US/German spreads, and it would result in a plunging dollar. From May 31- Tariffs Are Not The Most Important Thing Happening In The Market
The dollar continues to weaken, and I expect it shall decline more. We could see the dollar index reach 95.50, over the short-term.
Euro
The Euro could be heading to around 1.15 to the dollar. Or until Draghi comes out with an even more dovish monetary outlook than the Fed.
Gold (GLD)
Gold continues to surge and is heading towards $1,430, its next resistance level. It likely fails its first time, as the RSI is suggesting Gold is overbought.
Oracle (ORCL)
Oracle has been moving higher since reporting results last week. I don’t know why. A reduction in the share count drove most of the earnings beat. Net income and operating income only were up slightly. I think this one will fill the gap to back to 52ish.
Cisco (CSCO)
Cisco has formed a very nice uptrend over the past few weeks. It would indicate to me the stock continues to climb.
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[youtube-feed feed=7]Intel (INTC)
Intel has a very nice strong triangle pattern that has formed, and that could suggest the stock rise back to $49.
AMD (AMD)
AMD doesn’t look great, the stock is failing at resistance of $29.40 and may indicate a drop to around $27.25
Beyond Meat (BYND)
Beyond Meat continues to break down, and looks like BYND may be set up for its next leg lower to $125.
I apologize for missing the morning commentary; I had an issue with my computer that required some work on my side.
Have a good night
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. June 24
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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.