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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Netflix, Amazon, Facebook, AMD, Intel, Skyworks, and Gilead
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN SHARES OF NFLX AND SWKS
Let’s get into tonight, no long-winded intros, I’m tired and grouchy and want to watch some Netflix before sleep.
Speaking of Netflix the stock had a rough day, falling by 1.65 percent, nothing huge, but for now, the stock appears to have some strong support in place around $358. I like the fact that the stock managed to bounce off that level twice in the day, and the stock closed well off its lows. I have owned this one for a very long time.
Amazon actually had nearly the same pattern today.
as did Facebook
Maybe there was a FANG Algo running today. Strange? Right!
One stock chart that looks different was the AMD chart, and maybe it is a case of filling the gap, or perhaps it is the case of a stock that is just merely overbought. I will tell you there a lot of holes to be filled to the downside, and $13,77 is a genuine possibility. The stock is up some absurd amount over the past couple of months, and if the stock dropped by 10 percent, it would not be the end of the world.
Relax! I’m not a hater, I’m giving you an opinion, I might even be wrong! I am wrong from time to time. I hope I am for the sake of the longs!
Intel has had a big run too, and this chart looks deadly with that rising wedge, and the odds of a stock moving back to $51 are increasing. Does that mean I’m some bear in the stock, and I think it is forever doomed, NO! It means I think it might fall over the next couple of weeks! And should the pattern complete, I shall change my outlook.
Skyworks broke out today. I’d love a rise back to $112, especially since I own it!
Lets talk about Gilead.. you what know lets not. But if you own the stock and you can’t figure why the stock has gone anywhere in three years? I will tell you, and it has everything to do with the poor performance of the company. Just look at the at the chart below.
That is it. Night!
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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.
#amd #netflix #amazon #tesla #sp500 #apple