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1/5/21
Stocks – GE, AAPL, XOM
Macro – SPY, PPLT, OIL
Mike’s Reading The Markets (RTM) Premium Content – FREE 2-WEEK TRIAL
- Midday- Stocks And Yields Both Rising
- Morning Note- Stocks May Slide For Second Day In A Row
- Educational Content – How I Use Fundamental Analysis
- Midday- Stocks Break As Volatility Soars
- Morning Note- Gold Breaks Outs, Will Stocks Do The Same?
- T.W.A. – Overvalued, Overbought, Diverging Stock Market
- Midday – 10 Predictions For 2021
- Morning Note- Gold May Soar, Thoughts On Tesla, AT&T
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN AAPL
Stocks had a decent day erasing some of yesterday’s losses and rising by around 70 bps on the S&P 500. I don’t think much changed as a result of today’s price action versus yesterday, perhaps a recoil reaction. It is too early to know if the trend has really changed, but again, considering where the S&P 500 is currently, a change in trend from higher to lower would not surprise.
Yields
Bond yield did move higher after the ISM manufacturing report came in better than expected, and prices paid were high. That sent the 10-year to the upper end of the range at 96 bps. Again, I believe that rates are going higher from here, potentially to around 1.3% over the next few months.
This poses the biggest risk to the equity market – (Premium Subscriber Content – T.W.A. – Overvalued, Overbought, Diverging Stock Market)
Platinum (PPLT)
Platinum had a solid day rising by over 4%. On my 10 predictions for 2021, I noted that I thought platinum would rise to around $1520.
Oil had a strong day rising to around $50, a gain of over 5%. But it faces an incredibly strong level of resistance around $50.50.
Exxon (XOM)
Exxon had a powerful day but was unable to get through resistance at $44.50. That is the high hurdle for now.
GE (GE)
GE bounced back nicely today, and the chart still looks bullish based on the flag pattern. I still tend to think it can get up to $11.40.
Apple (AAPL)
Apple bounced back some today after falling to around $127 yesterday. I still believe this stock is likely to fall to around $124.
That’s 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.
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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.
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