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 to get the Weekly Monster Market Commentary and join the 3,339 subscribers getting it for FREE!
July 11 – Stock Mentions SPY, MSFT, TSLA, SNAP, NFLX, AMZN
Michael Kramer and the clients of Mott Capital own MSFT, TSLA, NFLX
- S&P 500 Futures +8 Points
- 10-Year Yield 2.06%
- Dollar Index 96.85
- VIX 12.90
- US Oil $60.72
- Japan Nikkei +0.51%
- China Shanghai +0.08%
- Hong Kong HSI +0.81%
- South Korea KOSPI +1.06%
- UK FTSE -0.08%
- Germany DAX -0.22%
Stock Trading For July 11
S&P 500 (SPY)
S&P 500 Futures are pointing to an opening above 3,000 on July 11. That level was acting as resistance a bit yesterday, but it shouldn’t for long. Based on my projection, this leg of the rally could take us as high 3,055.
Microsoft was initiated today with an outperform rating at Cowen and a $150 price target. The stock has been steadily trending higher since the December 24 lows. The next level of resistance I am projecting is around $141.
SNAP is rising today after BofA put a $17 target on the stock up from $12. The next level to watch for continues to $16.
I noted last night I saw more bullish option betting in Tesla. (See Premium Content Tesla Stock Is Seeing More Bullish Option Betting)
Well to say that Stranger Things 3 is hot, maybe an understatement. The latest Google Trends shows that search term for this season is higher than any in the past.
Amazon is trading above 2,025 this morning and is likely heading to around $2060.
Good Luck Today.
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.