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Michael Kramer and the clients of Mott Capital own the shares of NFLX, TSLA
Good Morning Today is Wednesday, January 2
Recap of International Trading:
- Hong Kong Hang Seng Index down 2.77%
- Japan
- China Shanghai Comp. down 1.15%
- UK FTSE down 0.50 basis points
- Dax down 0.19%
Citibank is forecasting the Hong Kong stock market to rally 20% in 2019.
According to the WSJ analysts have slashed their US earnings forecast for 2019 growth to 7.8% from 10.1% in September.
Yields
10-year yields are approaching an important level of technical support at 2.62%. Should yields fall below that level of support, they could fall to as low as 2.3%.
Stocks
Markets are pointing lower today after the weaker than expected manufacturing data in China. But the declines in Europe have been steadily recovering throughout the day. The German Dax gapped lower to the start day but has managed to recoup most of those losses. But caution is needed as this looks like a fill the gap type of scenario.
S&P 500 (SPX, SPY)
The US will get its own PMI data this morning with the US manufacturing PMI with consensus for 53.9.Â
The S&P 500 is set to fall to start the new year, with a technical uptrend and support around 2,475. Be careful of a fill the gap scenario here in the US too, which means a gap lower followed by a slow grind higher.
Overall corporate news flow is fairly light today.
Netflix (NFLX)
Netflix has reportedly hired the CFO away from Activision Blizzard. The stock is likely to open lower today and is now down about $6. The stock made some big head way on Monday, but the weakness today is likely to put the strength to the test. The stock crossed technical resistance at $260 on Monday, rising as high as $271. Today the stock is looking to open lower, testing what is now support around $260, this is the key level to watch in the stock and that it must hold if the stock is to continue rising.
Tesla (TSLA)
Tesla is likely to be in focus today as investors eagerly await fourth quarter production and deliver results. Relatively speaking, compared to past quarter, rumors of production are limited, other than a report the company may have about 3,000 Model 3’s left in inventory.Â
For the most part, the stock has been stuck in a range between $300 and $360 since the middle of December.
Amazon (AMZN)
Amazon has faced some tough resistance around $1520 the past few trading session, and the stock is looking to open about $25 lower this morning at around $1475, support is around $1450
Micon (MU)
Micron is pulling back some this morning as well after failing to break out on Monday and rise above technical resistance at $32.50. Support for the stock is around $29 should the stock drift lower today. Memory prices are expected to stay weak in 2019.
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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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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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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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Western Digital (WDC)
Cascend Research sees further weakness for NAND.Â
The stock is sitting at June 2016 lows, a very important level of support.
Microsoft (MSFT)
Microsoft struggled on Monday to get over resistance around $102.75 and is now facing a pullback to support at $96.
Facebook (FB)
According to data from TradeAlert, Facebook saw some bullish call buying at the March $155 strike price, with open interest rising by about 15,000. The stock looks weak stuck in a steep downtrend and resistance firmly in place around $133.
-Mike
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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.
s&P 500, spy, amazon, netflix, tesla, facebook, micron
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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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