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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.
Mott Capital – Yield Inversion Creates Long-Term Opportunities
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 (AMD)
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 (SHOP)
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
Freeport (FCX)
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 (AAPL)
Apple finally rose above $226, and I think this sets up a run back to the all-time highs around $234.
Disney (DIS)
Disney looks like it held support at $127, and may narrowly escape filling the gap. I think the stock heads back towards $133.
Netflix (NFLX)
Netflix finally got back to $273, and I think this sets up an increase to $285.
Have a great weekend!
-Mike
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Charts used with the permission of Bloomberg Finance L.P. This report contains independent commentary to be used for informational and educational purposes only. Michael Kramer is a member and investment adviser representative with Mott Capital Management. Mr. Kramer is not affiliated with this company and does not serve on the board of any related company that issued this stock. All opinions and analyses presented by Michael Kramer in this analysis or market report are solely Michael Kramer’s views. Readers should not treat any opinion, viewpoint, or prediction expressed by Michael Kramer as a specific solicitation or recommendation to buy or sell a particular security or follow a particular strategy. Michael Kramer’s analyses are based upon information and independent research that he considers reliable, but neither Michael Kramer nor Mott Capital Management guarantees its completeness or accuracy, and it should not be relied upon as such. Michael Kramer is not under any obligation to update or correct any information presented in his analyses. Mr. Kramer’s statements, guidance, and opinions are subject to change without notice. Past performance is not indicative of future results. Neither Michael Kramer nor Mott Capital Management guarantees any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment commentary presented in this analysis. Strategies or investments discussed may fluctuate in price or value. Investments or strategies mentioned in this analysis may not be suitable for you. This material does not consider your particular investment objectives, financial situation, or needs and is not intended as a recommendation appropriate for you. You must make an independent decision regarding investments or strategies in this analysis. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Before acting on information in this analysis, you should consider whether it is suitable for your circumstances and strongly consider seeking advice from your own financial or investment adviser to determine the suitability of any investment.
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