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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Tuesday, February 12
Michael Kramer and the clients of Mott Capital own Tesla
Michael Kramer owns SMH March $101 Calls
- S&P 500 Futures +21
- US 10-Year – 2.69%
- Dollar – 97
- Oil – $53.44
- VIX – 15.07
- 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%
- 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.
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 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.
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.
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.
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 is rising this morning too, and it continues to look to me like it is heading to $333.
Micron continues to hold the uptrend, and the stock is heading back into the resistance zone of $40 to $42.
Square appears to now be gearing up for that move up to $83.
Blackberry continues to go, and $8.75 is getting closer.
On Semiconductor looks to be on its way to $24.15.
That it’s it for now.
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.