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.
Otherwise, enjoy the column!
Subscribe to the Monster Stock Market Commentary and join the 2,378 subscribers getting it for FREE every day!
August 27 – Stock mentions SPY, SLV, ACAD, JNJ, ATVI, JD
Michael Kramer and the clients of Mott Capital own ACAD
- S&P 500 Futures +3.5%
- US 10-Year 1.51%
- VIX 19.30
- Dollar Index 97.91
- Oil $54.39
- Shanghai +1.39%
- HSI -0.06%
- Nikkei +0.96%
- KOSPI +0.43%
- DAX +0.44%
- UK FTSE -0.12%
August 27 Trading Session
S&P 500 (SPY)
Stocks are rising again on August 27 slightly. The S&P 500 will continue to try to recover some of its losses from Friday’s steep sell-off. For now, 2,900 is the next level of resistance followed by 2935.
Johnson and Johnson (JNJ)
Johnson and Johnson is rising this morning after an Oklahoma court ruled against the company in the opioid case resulting in a $572 million verdict in damages to be paid by JNJ. JPMorgan noted that the verdict was much better than feared. $131 is resistance with the next level around $136.
Acadia may be on the rise today after Cantor raised the ACAD price target to $40 from $30. The analyst noted higher conviction on the ACAD’s upcoming data readout for the negative symptoms of Schizophrenia. There are currently no approved drugs for this indication. $27.20 has acted as support, while $31.40 is the next significant level of resistance.
Activision Bizzard (ATVI)
Activision Blizzard is nearing a break out which could send the shares back towards $55.
Silver is rising again, and the SLV ETF is continuing to move closer to my $17.25 target. From August 12: Betting That Silver Continues To Rise
JD.com is hovering around resistance at $29.90, with a rise above this level sending the stock back towards $31.
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. august 27