Subscribe to receive this FREE daily commentary directly in your email
[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 2,682 Daily Subscribers And Get This Commentary In Your E-Mail!
[widget id=”text-17″]
Tesla
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.
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 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 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
Unlock Deeper Insights with Exclusive Member-Only Video Content on The Market Chronicles YouTube Channel – Just $34.99/Month
19:07
Join this channel to get access to perks:
https://www.youtube.com/channel/UCIIr1ooRsSukPL7rKNr0VHQ/join
Please check out my content on Substack and Seeking Alpha:
https://www.themarketchronicle.com/
https://seekingalpha.com/affiliate_link/Youtube81624
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.
3
YouTube Video VVVNT0lJcjFvb1JzU3VrUEw3cktOcjBWSFEuS1FCcnZ3MUxvdVU
15:08
Join this channel to get access to perks:
https://www.youtube.com/channel/UCIIr1ooRsSukPL7rKNr0VHQ/join
Please check out my content on Substack and Seeking Alpha:
https://www.themarketchronicle.com/
https://seekingalpha.com/affiliate_link/Youtube81624
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.
4
YouTube Video VVVNT0lJcjFvb1JzU3VrUEw3cktOcjBWSFEuMk5ULXg5dW9BWms
13:02
Join this channel to get access to perks:
https://www.youtube.com/channel/UCIIr1ooRsSukPL7rKNr0VHQ/join
Please check out my content on Substack and Seeking Alpha:
https://www.themarketchronicle.com/
https://seekingalpha.com/affiliate_link/Youtube81624
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.
5
YouTube Video VVVNT0lJcjFvb1JzU3VrUEw3cktOcjBWSFEuUDFpMXFFZzdBRzQ
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
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
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.
Yield
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 2,682 Daily Subscribers And Get This Commentary In Your E-Mail! Subscribe
-OR-
[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
Subscribe to receive this FREE daily commentary directly in your email
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.
Stagflation Meet Greed
Mott Capital's Market Chronicles 12 hours ago