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.
Otherwise, enjoy the column!
Subscribe to the Monster Stock Market Commentary to get the Daily Monster Market Commentary and join the 2,936 subscribers getting it for FREE!
[widget id=”wordads_sidebar_widget-41″]
Could The Real AMD Seller Please Stand-Up – Monster Daily Commentary
[widget id=”text-16″]
Lots of charts today, covering the S&P 500, AMD, Tesla, Amazon, Netflix, Regeneron, Nvidia and Facebook. Stock
S&P 500
So much for those “warning signs” the media was flashing last night. But the most entertaining part of today’s rally is that we closed precisely were we peaked yesterday, it was a coincidence, right!? Not likely. Like I wrote yesterday, we gapped higher yesterday morning, dragged out feet lower the rest of the day, and today the market closes were we started. What a joke! Seriously this market is just a machine/algorithm driven marketplace.
[vc_tweetmeme type=”follow” follow_user=”michaelmottcm” show_followers_count=”true” large_button=”true”]
Join our 2,936 Daily Subscribers And Get This Commentary In Your E-Mail!
The chart says it all, and yes it has become just that predictable. Anyone reading this column long enough knows this happens all the time, and this is not the first time we have written about it.
An article I had written some time ago, was picked up by MarketWatch.com and was published as their chart of the day, about my earlier calls on the predictability of the market.
[widget id=”text-14″]
AMD
This next chart of AMD could be viewed two ways, either sad or a joke, just look at it. Raise your hand if you think there is a seller of AMD at $12.20? Whomever the trader is on this one needs to go back to school, or the algo’s need some serious tweaking. You have to be kidding me.
Subscribe to the MCM Stock Market Commentary to get it Daily and join the 2,936 subscribers getting it for FREE!
Tesla
Tesla shares officially broke out last week when it finally began moving away from a multi-month downtrend, and it continues to trend higher, closing right around $348. Notice the stock is sitting right at resistance, but the relative strength index is still low enough that the stock should have plenty of juice left to get the price up to nearly $360 over the short-term.
Amazon and Netflix
Amazon and Netflix were two stock that did not go up today, but are you surprised? These stocks have been ripping in 2018, and have become entirely overextended. In fact, the RSI on Amazon is at 78, while Netflix is just back to 71.
Amazon is still trending in higher, that has not changed, and with earnings looming the stocks run is likely not finished.
Netflix is still trending higher as well, and it gets its turn to report result this coming Monday.
Biotech
The NASDAQ Biotech ETF ($IBB) bounced back nicely, up nearly 75bps. The ETF just continues trending modestly higher, and that is what matters.
Regeneron
Keep an eye on Regeneron this one is getting close a big breakout, or breakdown.
Nvidia
Nvidia shares tested support at $218 and held steady, a positive sign for sure.
Facebook shares just continue to hug the uptrend, and that is a good thing, a rebound to $188 is likely coming.
That’s it!
[widget id=”text-14″]
Sign-up for our premium content on Seeking Alpha Market Place – “Reading The Markets” and a get Two Week Free Trial Period
Premium Content: Benefits include the ability to reach out to Mike with questions through a chat room, direct message, or comments.
Now JUST $25 Per Month Or $200 Per Year – Get Your Free 2-Week Trial Now!
Inflation, Tesla Plus So Much More
An Intelligent Way Of Looking At Tesla’s Results
3 Biotech Names To Start The Year
Disney- The Market Finally Get’s It
Free Articles Written By Mike:
Bitcoin’s Selloff May Push Cryptocurrency 20% Lower
Why Exact Sciences Will Plunge Even Further
How a Juno Takeover Could Boost Celgene
Why Facebook Stock Looks Like a Bargain
Why Ford Could Rise By Nearly 30%
Why Morgan Stanley’s Stock Is Poised to Rise by 25%
Apple Poised to Gain 14%, Defying Skeptics
Exxon Mobil May Rise 20% on the Back of Surging Oil
Qualcomm’s Stock Heads to a Crossroads
We offer daily market commentaries sent directly to your inbox or follow us on Twitter.
Join our 2,936 Daily Subscribers And Get This Commentary In Your E-Mail! Subscribe
-OR-
[vc_tweetmeme type=”follow” follow_user=”michaelmottcm” show_followers_count=”true” large_button=”true”]
Michael Kramer and the Clients of Mott Capital own shares of NFLX and TSLA
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.
© 2017 Mott Capital Management, LLC. Use, publication or reproduction in any media prohibited without the permission of the copyright holder.
Tags: #sp500 #biotech #amd #nvidia #tesla #regeneron #facebook #netflix #amazon