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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Michael Kramer and the clients of Mott Capital own the shares of AAPL, NFLX, TSLA
Good Morning Today is Monday, December 31
- S&P 500 futures are pointing to a higher opening of 24 points as of 7:45 AM
- The US 10-year rate is at 2.73%
- Dollar Index is at 96.23
- WTI Crude Oil is $45.75
- VIX: 27.26
- Critical events for today: U.S. and China continue to work towards a trade deal
Recap of International Trading:
- Hong Kong Hang Seng Index up 1.34%
- Japan was down 0.31%
- China Shanghai Comp. up 0.44%
- UK FTSE down 0.13 basis points
- Dax up 0
S&P 500 (SPY, SPX)
The S&P 500 is once again going to try to take out 2,500 this morning. Resistance comes around 2,530 and support is around 2,460.
Amazon is planning to expand its Whole Food stores, the stock is currently trading higher this morning and is approaching a key level of technical resistance. Should the stock rise above $1,520 it could make a move higher to around $1,580.
More negative headline for Facebook regarding data sharing according to an FT Report\. The stock continues to be in a steep downtrend, and every attempt to break out has failed. The stock may lift to around $140, but don’t expect it to last. If anything the path of least resistance is still lower and $115 seems possible.
Tesla is due to report fourth quarter delivery and production results on the 2nd or 3rd of January. As noted previously the stock continues to hold support around $300.
Apple shares are moving higher today on direct news. But obviously a trade deal between the U.S. and China would be a big benefit for Apple and reduce any potential tariff risks on the iPhone. If Apple can stay above $154, it would have room to rise towards $164.
Netflix is rising today by after the company releases some positive news around its newest movie Bird Box late last week. The shares are rising above $260 and the next level of resistance comes around $271.
Good Luck on this final day of 2018!
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.
Stocks, apple, netflix, amazon, tesla, facebook