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Tuesday, February 12
Michael Kramer and the clients of Mott Capital own Tesla
Michael Kramer owns SMH March $101 Calls
US Markets
- S&P 500 Futures +21
- US 10-Year – 2.69%
- Dollar – 97
- Oil – $53.44
- VIX – 15.07
International Markets
- Nikkei +2.61%
- Shanghai +0.68%
- Hang Seng +0.10%
- KOSPI +0.45%
- DAX +1.28%
- FTSE +0.23%
- German 10-Year Bund 0.14%
- Japan 10-Year JGB -0.008% –
Global Growth Proxies
- Copper -0.48%
- Silver +0.57%
- Platinum +0.34%
Top News
- Government Shutdown Avoided?
- OPEC oil production drops in January
- China sees the US as Sole Economic Super Power until 2035
It’s the global rally everyone loves to hate. Stop watching what only the US equity market does. Economies in Asia and Europe are supposed to be slowing, then why are equities around the world rallying? Because markets are looking to the future by 6 to 9 months and they are telling us the slowdown is passing.
If you want to be a complete trader or investors then you must, must, must pay attention to all financial markets, bonds, currencies, commodities, international, and domestic. Only then do you get the complete picture.
We live in an interconnected world. The U.S. is not an island entire to itself.
China
Equities around the globe are in rally mode, with the biggest surprise coming out of Asia. China’s Shanghai composite broke out overnight with the index rising above a critical level of resistance at 2,655.
Hong Kong
Hong Kong didn’t break out –yet. It closed right on technical resistance at 28,160. Look for the break out in Hong Kong tonight, especially if the US remains strong.
Japan
The Nikkei also closed right below crucial resistance at 20,951.
S&P 500 (SPY)
The S&P 500 is pointing to a higher opening and appears to be ready to challenge resistance at 2,730 to 2,735. A jump above 2,735 sets up the rally to 2,800.
Semis (SMH)
The Semiconductor ETF, the SMH, is pointing to an opening above resistance at $100.80. The trend is clear, and $106 is on the horizon.
Amazon (AMZN)
Last night we spoke about that falling wedge, a bullish reversal pattern, in Amazon and today the stock appears to be on its way to $1620.
Tesla (TSLA)
Tesla is rising this morning too, and it continues to look to me like it is heading to $333.
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[youtube-feed feed=7]Micron (MU)
Micron continues to hold the uptrend, and the stock is heading back into the resistance zone of $40 to $42.
Square (SQ)
Square appears to now be gearing up for that move up to $83.
Blackberry (BB)
Blackberry continues to go, and $8.75 is getting closer.
On
On Semiconductor looks to be on its way to $24.15.
That it’s it for now.
-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.