Home » Facebook Leading Stock Higher, Plus Amazon Preview on January 31

Facebook Leading Stock Higher, Plus Amazon Preview on January 31

Facebook Leading Stock Higher, Plus Amazon Preview on January 31

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 Tesla, Visa, Mastercard

Thursday, January 31, 2019

S&P 500 Future +5 points

US 10-Year: 2.67%

Dollar Index: 95.30

VIX: 17.5

Oil: $54.32

International Trading

Nikkei: +1.06%

Hong Kong HSI: +1.08%

Shanghai: +0.35%

Korea Kospi: -0.06%

Key Events:

  1. U.S./China Trade Negotiations
  2. BLS Job Report on 2/1: Estimates +165k
  3. Earnings Still Front and Center:
  4. Thursday PM:
    1. Amazon
    2. Cypress
  5. Friday AM
    1. Chevron
    2. Exxon

S&P 500 (SPY)

Stocks are pointing to a slightly higher opening today with the S&P 5oo future pointing to a 6 point increase. Resistance for the S&P 500 is around 2,690. We tested that level briefly yesterday and failed.  Support for the index is at 2,630.

spx

Facebook (FB)

Facebook is rising over 11% this morning after reporting better than expected results. We reviewed those results last night.  The stock is trading right above resistance at $166, and it is holding support at that price nicely. The next price to watch for is $173.

facebook, fb

Twitter (TWTR)

Twitter is rising as well, and if can get over $33.50 it can go on to $36.50.

twitter, twtr

Qualcomm (QCOM)

Qualcomm is rising a bit after it reported results and guidance was mostly in line. Sometimes not being worse than expectations is all that matters. The stock is rising and bouncing where it should.  Pretty hard to bet against Qualcomm at this price given its history, don’t you think?

qcom

Visa (V)

I’m scratching head my trying to figure out why Visa is trading lower this morning? Good numbers, guidance seems to be good. Strange.

visa, v

Mastercard (MA)

Is rising in the premarket after it reported results. This one is breaking and could be heading back to $220.

mastercard, ma

Tesla (TSLA)

Tesla is trading down, not because of earnings, but because the CFO is retiring –again! I think that is a non-event, the guy replacing him has been at the company for a long time and appears equipped to handle the job. Whatever. The chart is unchanged.

tesla, tsla

Amazon (AMZN)

Amazon reports results tonight after the close, and the stock is entering a zone of resistance which is crucial for the stock. The stock is entering a break out region around $1,720 and should it rise above $1,770 it could trigger a much more massive rally to around $2,000.

Amazon, amzn

Good Luck

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.