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 1,905 subscribers getting it for FREE every day!
September 10 – Stock mentions: SPY, AMD, T, SNAP, JPM, NFLX
Michael Kramer and the clients of Mott Capital own NFLX
- S&P 500 Futures -1
- US 10-Year 1.63%
- Oil $58.14
- Dollar Index 98.42
- VIX 15.71
- Shanghai -0.12%
- HSI +0.01%
- KOSPI +0.62%
- Nikkei +0.35%
- FTSE -0.10%
- DAX -0.13%
Stocks are pointing to flat opening on September 10, and at least for now continue to be a range of consolidation. The S&P 500 caught a slight bid on more China/US Trade optimism. We can continue to monitor support at 2975 and resistance at 3,000.
AMD continues to act poorly, and the stock appears it is heading towards $29.40. AMD Stock Is Looking Very Weak
AT&T jumped yesterday on the news of the Elliot stake, and now the gap appears as if it is going to be filled.
Snap fell hard yesterday with the rest of the Technology sector. But, I have seen a lot of call buying lately, and I think the stock is likely heading higher still. Premium Content: More Bullish Bets On Snap
Credit Suisse is noting they are seeing better app downloading for Netflix this quarter. The stock looks as it has completed the falling wedge. I still think the stock rises. Premium: Here Is Why Netflix May See A Rebound
Keep an eye on JPM; resistance comes at $117. Should it rise above that price, the all-time highs are within reach. Increasing yields and widening spread should help to lift the entire sector, which is why it has been hot in recent days.
Please remember to check out my SA Marketplace service. I answer your questions quickly and not only post stock and market updates but instructional content. Give it a try; you honestly have nothing to lose. The two weeks are free.
A Few Recent Titles:
- AMD Stock Is Looking Very Weak
- Sector Rotation Driving Markets Today
- More Bullish Bets On Snap
- The Invert Yield Curve Explainer
- The Week Of September 9 Will Be A Big One
- Coverage List And Member Letter
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.