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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June 18 – Stock mentions: SPY, FB, BABA, JD, TSLA, AMZN
Michael Kramer and the clients of Mott Capital own TSLA
- S&P 500 Futures +16 points
- US 10-year 2.03%
- Dollar Index 97.66
- Oil $51.84
- VIX 15.04
- Japan Nikkei -0.72%
- China Shanghai +0.09%
- Hong Kong HSI +1%
- South Korea +0.38%
- Germany DAX 1.21%
- UK FTSE +0.82%
Draghi Beat Powell Yet Again!
Yields are falling on June 18, and the dollar is rising this morning after Draghi made very dovish comments. Once again, Draghi is out in front of Powell and controlling the course of Monetary policy. The 10-year German Bund is now at -0.30. That is, of course, dragging the US 10-year lower as well. What will the Fed do now? Perhaps Powell can beat Draghi tomorrow and cut rates.
S&P 500 Futures (SPY)
The S&P 500 futures are trading at their highest levels on June 18 since early May and signaling a breakout above resistance at 2895 for the S&P 500 cash market.
Facebook was trading around $194, hitting resistance in the premarket.
The US dollar vs. China yuan has stabilized, and that is allowing for both JD.com and Baba to stabilize as well.
Alibaba can probaly rise to around $166.
I also think JD can rise to around $29.30. I wrote premium content about this last week. (See: JD.Com: Bullish Betting Suggest The Stock Rises)
Tesla is clearing $225 this morning, and $250 I believe is finally next. I noted bullish trends and options activity in TSLA last week in the premium section as well. (See: Tesla Continues To See Bullish Trends)
Amazon is challenging resistance today $1900, setting up a potential run to $1960.
No commentary tonight. I’m taking my kids to see a certain YouTube Star’s performance. The power of YouTube is impressive.
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