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 3,418 subscribers getting it for FREE!
September 23 – Stock mentions: SPY, ACAD, ROKU, SHOP, AAPL, EXAS
Michael Kramer and the clients of Mott Capital own ACAD and AAPL
- S&P 500 Futures -5 points
- US 10-Year Treasury 1.69%
- VIX 15.35
- Oil $57.80
- Dollar 98.69
- Japan Nikkei +0.16%
- KOSPI +0.01%
- HK HSI -0.81%
- Shanghai -0.98%
- UK FTSE -0.44%
- German Dax -1.08%
Germany saw its Manufacturing FLASH PMI fall to 41.4 lower than an expectation of 44.
The US Manufacturing FLASH PMI comes at 9:45 AM; estimates are for 50.1
S&P 500 (SPY)
S&P 500 e-minis futures fell hard around 3 am when the German PMI came out. The futures have been recovering some since, and are currently hovering around 2,990. The region around 2,980 has acted a reasonable level of support since the beginning of the month. Premium content: Micron Will Be The Key To The Week Of September 22 – Get the first two weeks for free.
Acadia is rising this morning after Cantor Fitergerald raised its price target on the stock to $56 from $49. The stock needs to get over $42 for a breakout.
Roku will remain in focus today, and at the moment the stock has stabilized around $109. Support will continue to be about $100, with resistance at $122.
Shopify is trading down to $315, and one should be careful. If the deal price breaks, the stock could see plenty of downward pressure pushing shares towards $285.
Apple will need to hold support at $217.50 to avoid a decline to $209.50.
Exact Sciences (EXAS)
Exact Sciences is rising today, after Cologuard gains FDA approval for ages 45 to 49. The stock is increasing by 6% in the pre-market but still faces fierce resistance around $115.
Have a great day!
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.