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.
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For the Week of October 7 – Stock mentions: SPY, AMD, SHOP, FCX, AAPL, DIS, NFLX
Michael Kramer and the clients of Mott Capital own AAPL, DIS, & NFLX
If you didn’t have the chance to listen to the podcast for the week ending October 4, you can so by just clicking the orange play button below. You can listen to while you read my 7 Monster Stock Market Predictions for the week of October 7.
I will be doing a live webinar on October 9 at Noon ET. It will be hosted by Interactive Brokers and is FREE to join. There will be a Q&A session, as well.
S&P 500 (SPY)
The S&P 500 had a strong come back last week despite some dissappointing news. I believe the strong finish from last week helps to push the index higher the week of October 7, with the S&P 500 climbing back to resistance at 2985.
AMD had a nice turn around this past week after falling to the support level we had been targeting at $27.40. I think it continues to move higher. I have seen a lot of bullish betting in the stock over the past week or so. The next level I’m looking for is at $29.40, then $31.40. Here is the free article I noted the bullish betting. AMD’s Recent Sell-Off May Be At Its End
Shopify also had a strong come back this week, and I think we rise towards $333 then $340. I noted the break out in a premium article on Thursday – Shopify Breaks Out
The options activity in Freeport is picking up again; the last time we saw this bullish activity, the stock ran to $11. I talk more about the bullish betting this week in a premium story on Friday, FCX May Be Setting Up Another Run Higher, but in the meantime, I think $9.25 seems like a reasonable level for the stock to rise too.
Apple finally rose above $226, and I think this sets up a run back to the all-time highs around $234.
Disney looks like it held support at $127, and may narrowly escape filling the gap. I think the stock heads back towards $133.
Netflix finally got back to $273, and I think this sets up an increase to $285.
Have a great weekend!
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.