Subscribe to receive this FREE daily commentary directly in your email
MARCH 13, 2020
STOCKS – NONE
MACRO – SPY, GLD, VIX
READING THE MARKET PREMIUM CONTENT:
- Not Out Of The Woods Yet, Risks Remain Elevated
- Relief Rally – Morning Commentary 3.13.20
- Is A Massive U-Turn Coming? Earnings Model Update
Anyway, stocks went up today, I forgot what that was even like. Will it last? Who knows. I was just happy to see some green on my screen after a freakin brutal week. I was talking to a friend in town this afternoon, as we stood an equidistant 6 feet apart from one another, I noted next week wasn’t going to be easy. After all, what was support on the way down, becomes resistance on the way up, and that means our friend at 2,730 is now a problem.
But, hey, there is good news in this story because we did finally break that nasty downtrend. However, I do not think we get out of this one 2019 style and rally in a straight line off the lows.
The one reason I still have concerns is that the VIX hasn’t fallen very far and is still above 50. That is too high, and although the uptrend is broken, we need it to get it below 50.
Gold is breaking down, and that is also good. You know, some years ago, I was talking to a friend of mine about gold and why I was not too fond of it. He noted that during a crisis, you want to have gold. My answer, how do we know that during the next crisis, there wouldn’t be a flight to toilet paper. It turns out; I may have been right. :).
Anyway, that will be all for today.
You might as well rest up while you can, Monday may be interesting.
Look it has to get better at some point right? Think about it like this, if the S&P 500 falls 200 points every week, in about 3 months there would be nothing left to sell because the index would be at zero.
Cheer up, it will get better. You really want to bet against the market in the long-run. Just don’t look at the part between 1929 and 1931. Otherwise, we’re good.
You know what’s interesting in that chart, nah, forget. I mean how could the Dow Jones have increased 86% between 1917 and 1920, couldn’t be, not with the Spanish Flu and all.
-Mike
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.
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.
The Stock Market Drifts As Rates And Dollar Eye Breakouts
Mott Capital's Market Chronicles 17 hours ago