Subscribe to receive this FREE daily commentary directly in your email
June 6, 2019 – Stock Mentions: SPY, AAPL, TSLA, AMD, MU, C
The Fastest Reading Morning Commentary on Wall StreetÂ
Michael Kramer and the clients of Mott Capital own TSLA, AAPL
US Markets
- S&P Futures +7
- US 10yr – 2.1%
- VIX 16.04
- Dollar Index 96.93
- Oil $52.13
Intl. Markets
- Japan Nikkei -0.01%
- China Shanghai -1.17%
- Hong Kong HSI +0.26%
- South Korea KOSPI +0.10%
- Germany DAX +0.20%
- UK FTSE +0.57%
S&P 500 (SPY)
The stock market is sets to open higher once again on June 6, setting up a potential showdown with resistance at 2,836 on the S&P 500. However, given the sharp rise in the index, support comes at 2,812 and then the downtrend, which has fallen to around to a range of 2,800 –>2,794.
I think the first test may be difficult to break out.
Apple (AAPL)
Apple may continue to rise today after it was initiated at Evercore with an Outperform and $205 target. The next level of resistance comes at $195 first.
AMD (AMD)
AMD was upgraded at Morgan Stanley to overweight from underweight and $28 target. I saw some bullish call activity for the June 21 $35 strike price. The open interest rose today by almost 14,000 contracts to a total of almost 22,000. A buyer of the calls needs the stock to rise to around $35.20 by expiration.
The next big test for AMD comes at $31.40.
Tesla (TSLA)
Demand issues at Tesla? Not based on the latest info from Electrek. According to the website, the company is aiming to make 66,000 deliveries in North America alone. A rise above $205 takes the stock to $225. The stock is challenging $205 already in the premarket. I guess Alexa was right.Â
Micron (MU)
Micron is likely to struggle as DRAM prices continue to slide, according to DigiTimes. A drop below $32.50 sets up a decline to $29. One has to wonder if management will need to revise its second-half outlook when they report results. It would sound like it.
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.
2
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
Citigroup (C)
Watch Citigroup today. The stock is stalling out around $66. If it rises above $66, it can move up to $70. If it can’t, it goes back to $61. I think it goes back to $61.
ECB stuff in the afternoon write-up.
-Mike
Mott Capital Management, LLCÂ 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.
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 11 hours ago