amazon exact sciences bitcoin

Amazon, Exact Sciences, and Bitcoin Are Poised To Fall – Daily Commentary

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 Market Chronicle to get the Daily Monster Market Commentary and join the 2,892 subscribers getting it for FREE!

[widget id=”wordads_sidebar_widget-41″]

Amazon, Exact Sciences, and Bitcoin Are Poised To Fall – Daily Commentary

[widget id=”text-16″]

S&P 500

Like I said yesterday, the S&P 500 was nearing a breakout, and it did today rising over 2,807, closing at 2,810.

[vc_tweetmeme type=”follow” follow_user=”michaelmottcm” show_followers_count=”true” large_button=”true”] 

Join our 2,892 Daily Subscribers And Get This Commentary In Your E-Mail! 

[widget id=”text-17″]


After having a mild pullback yesterday, Tesla is making its assault on $350 and appears once again ready to break out. The trend in Tesla continues higher, as news spreads of the Model 3 making its way to the east coast showrooms.


Subscribe to the The Market Chronicle to get it Daily and join the 2,892 subscribers getting it for FREE!

Shares continue to act extremely well despite the negative news flow, and with earnings for the company likely around the corner, I’m not sure that it will get any better. The company is yet to announce when that day will be, but inevitably the burn rate and cash will be the key.

The chart below shows how short interest had been steadily increasing over the past several weeks, but has now started to decline.

TSLA Short Interest Chart

TSLA Short Interest data by YCharts

[widget id=”text-14″]

Exact Sciences

Exact Sciences shares continue to stall out below support at $49.25, and the longer they start below support, the more likely it becomes for the stock to keep moving lower. The news the other day about the new liquid-screening test for Colon Cancer, even thought in the development phase, has rattled the market.

But for now, as the chart below shows, revenue estimates have continued to trend higher, with no evidence that analysts are starting to trim the outlook. So perhaps the market is just rethinking the current valuation for the company. We will need to continue to watch this.

EXAS Revenue Estimates for Next Fiscal Year Chart

EXAS Revenue Estimates for Next Fiscal Year data by YCharts

Morgan Stanley

Morgan Stanley shares have entirely busted out, rising well above resistance at $55, after reporting solid results. Shares could be well on their to $70

morgan Stanley

Sign-up for our premium content on Seeking Alpha Market Place – “Reading The Markets”  and a get Two Week Free Trial Period

Premium Content: Benefits include the ability to reach out to Mike with questions through a chat room, direct message, or comments. 

Now JUST $25 Per Month Or $200 Per Year – Get Your Free 2-Week Trial Now!

Subscriber Mail Bag

Euro’s Big Breakout

Inflation, Tesla Plus So Much More

Predicting The Euro’s Rise 


Amazon shares look set to fall, with the stock falling through its uptrend, and has a relative strength index reading at 76 on the daily chart. A decline to 1,190 would be about 5 percent from its current level. A fall to 1,250 offers a support region and is only a 3 percent decline. With the stock going into earnings I couldn’t see it falling 5 percent but could come into play after earnings.



Bitcoin continues to fail at 11,800; it just doesn’t have enough juice left. The volume is drying up, and the RSI is heading lower. Not a good sign or setup for Bitcoin here.



Ten-year yields are now at 2.65 and seem heading even higher. 3 percent is coming.


That’s it. See ya!

[widget id=”text-14″]

Free Articles Written By Mike:

Netflix Investors May Be Getting Too Bullish On The Stock

Why Chipmaker Lam Research Is Poised For a Rebound

How a Juno Takeover Could Boost Celgene

Why Facebook Stock Looks Like a Bargain

Why Ford Could Rise By Nearly 30%

Why Morgan Stanley’s Stock Is Poised to Rise by 25%

Apple Poised to Gain 14%, Defying Skeptics

Exxon Mobil May Rise 20% on the Back of Surging Oil

Qualcomm’s Stock Heads to a Crossroads

We offer daily market commentaries sent directly to your inbox or follow us on Twitter.

Join our 2,892 Daily Subscribers And Get This Commentary In Your E-Mail! Subscribe


[vc_tweetmeme type=”follow” follow_user=”michaelmottcm” show_followers_count=”true” large_button=”true”]

Photo Credit Via Flickr

Michael Kramer and the clients of Mott Capial own shares of Tesla

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.

© 2017 Mott Capital Management, LLC.  Use, publication or reproduction in any media prohibited without the permission of the copyright holder.

Tags: #sp500 #bitcoin #amazon #exact #sciences #morganstanley #tesla #model3 

Thanks For Visiting The Market Chronicle!

Sign up to receive more great market content like what you just read sent to your inbox daily!

We don’t spam! Read our privacy policy for more info.