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May 20, 2019 – Stock Mentions: Semis, Micron, Broadcom, Qualcomm, Boeing, Alibaba
US Markets
- S&p 500 Futures -13.75 points
- US 10-year 2.39%
- Dollar Index 97.98
- VIX 16.96
- Oil $62.86
International Markets
- Shanghai Composite -0.41%
- Hong Kong HSI -0.57%
- South Korea KOSPI – FLAT
- German DAX -1.31%
- UK FTSE -0.8%
Housing Keeping: I was really bored with the old website so I decided on Sunday with nothing to do it was time for a major revamp!!!!
International Market
The Shanghai Composite was down on May 20, but the good news is that it closed off its lows and managed to hold support at 2,825.
Tencent (700 HK)
Tencent, the big technology company in Asia, has been getting struck hard. Why do we care? Remember, this was one of the stocks that were the first to bottom and begin to rise in the winter. For now, the stock MUST hold support at 333 HKD.
Australia
The Australian equity market doesn’t seem too concerned about a trade war hurting the China economy. The index just reached a record high. China happens to be Australia’s biggest trade pattern, accounting for $74 billion or 29.2% of the countries exports.
Hey look at that, the US exports about $150 billion a year to China, about Double Australia. However, the US economy is nearly $20 trillion, and Australia’s GDP is about $1.3 trillion. Who is China more Important too?
US Stock Market
S&P 500 (SPY)
Stocks are picking up from where they left off on Friday with the S&P 500 indicating to open lower on May 20. Again, 2,836 is the big level that we must continue to watch. Based on the Futures, the S&P 500 should open above that region of support. A drop below that level setups a retest of the lows from last Monday around 2,812.
AT 2,812 the S&P 500 is about 5% off its highs, and that was the region we saw the trade talk turn more positive.
However, I hope that the trade talk gets out of the headlines and soon.
Semis Will Weigh
Semiconductor stocks will continue to fall today as many begin to comply with the request from the US Government not to supply Huawei anymore. Additionally, Alphabet (GOOGL) will no longer supply Huawei with its Andriod operating system.
Qualcomm (QCOM)
Qualcomm is one of those stocks that is hanging on to support in early trading around $76.50. Should the stock fail to hold, support at this level it is likely to fall back to $70.35.
Micron (MU)
Micron is also falling this morning, and it appears to be heading to $34.10, with the potential for the losses to grow worse, and a decline to $32.50
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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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Broadcom (AVGO)
Broadcom is also falling this morning and appears to be heading towards $273.
Alibaba (BABA)
Alibaba is falling this morning too, and now it appears it may be heading towards $151.
Boeing (BA)
Boeing is also falling as part of broader China worries. The stock now appears to be falling out of the bear flag, and I Think that means that $320 is on the way.
Don’t worry, the big guy has got your back! =)
-Mike
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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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