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Amazon, Netflix, Nvidia, Micron, FireEye, Oh My!
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MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN NFLX
S&P 500
Stocks have been stagnating the last couple of days, just like the New York City air. It is the middle of August, its beyond hot, earnings are over, and people go on vacation to colder places. The good news is the S&P 500 has surpassed the giant gap created at the end of January, and now there is a substantial support level in place around 2,850, to work higher from.
Inflation Watch
The producer price index was flat in the month of July, and that was below expectations. Again, our real-time inflation gauge – oil- continues to tell us inflation rates are likely going lower, not higher. The next level in oil I am watching for is $64. I go through a whole 10-minute discussion on the inflation outlook, and what it means for rates and stocks in today’s member video.
Inflation Runs Rampant Only In Fantasyland, And That Is Good For Stocks- Yes I tend to have a little more fun in the member video’s then writing because getting my jokes aren’t easy when I write.
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Amazon
Amazon keeps going. I told you yesterday it broke out, and my target is now 2,020. It could get there next week at this rate. I’m not even sure how the market is valuing Amazon anymore, or if they are valuing Amazon anymore. Its market cap is now nearly $925 billion. Amazing.
Netflix
Netflix is trying hard to get over $357. The stock did break free of its downtrend, so I think it does rise back and fill the gap at $398. I wrote a piece on Investopedia this morning talking about that.
Micron
Of course, I wrote yesterday, Micron is breaking out, and then Morgan Stanley comes out and downgrades the whole chip space. Really? Come on. The good news, Micron’s uptrend still isn’t broken. That means we live to fight another day.
Nvidia
A StockTwits follower asked me about Nvidia, and I must say the stock has been so dull lately, what happened to it? The good news, it is close to a breakout, and with earnings next week, I think there is a good chance it does. The chart showing a bullish continuation pattern, a rising triangle. I still think it can get to about $282.
FireEye
The chart on FireEye looks pretty bullish to me.
That is all for today.
-Mike
Member Services
Ok, so now that I am starting to actively self-promote myself, I’m asking you to please support me and check out my member’s area. I priced the service to be cheap because, honestly I’m trying to make some money from it, but also to help investors learn. Members can post questions, and I usually get back to them in less than 12 hours through the chat feature or the messaging feature on the platform, I also post answers in videos showing you how I do the work.
I run the service through Seeking Alpha because they have a good operation and provide all the technology. Email notifications, chat room, comment sections, etc.
It is $200 a year or $25 a month. Right now you can get two weeks for free, and introductory 20 percent off. If you do not like it cancel it, no big deal, no feeling hurt. Thanks!
Here are some of the recent videos:
Inflation Runs Rampant Only In Fantasyland And That Is Good For Stocks
Tesla May Be Going Higher Regardless Of The Bid
Why The S&P 500 May Rise To 3,500
Netflix Is Not Broken, Plus S&P May Rise To 3,000 Sooner Than You Think
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#SP500 #AMAZON #inflation #oil #micron #nvidia #fireeye #netflix