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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Stocks mentions: UBER, ROKU, NFLX, INTC, JD
Macro mentions: SPY
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN NFLX
Stocks put together a pretty solid day with the S&P 500 rising by almost 40 basis points to close at 3078. The index may be getting a little bit ahead of itself over the short-term before pushing even higher. There are just a bunch of gaps that need to be filled at lower levels as far as 3,025. Could we see a 2 to 3% decline over the next few days or the part of next week? It seems possible, and based on some other measure; the signs are there. I go through this and more in terms of why an end of year rally may be on the way may follow a short-term pullback. Stocks May Pull Back Short-Term Ahead Of Year-End Rally
Uber is falling follow results to around $29.70. Still, the stock is nowhere it hasn’t been over the past month, and again most of the bullish option betting I was seeing was for January expiration. We can continue to watch, but I’m not throwing in the towel yet. Today, I noted the stock might rise to around $36.50 by January. We’ll see.
To be clear, I’m not some raging Uber bull; I’m not, they have lots of issues, but again my thoughts are related to how the options trades and the chart is set up. Premium content: More Bullish Options Betting On UBER
Roku didn’t have such a great day now, did it? And to think the company didn’t even report results yet. If the stocks drop below $135, then $122 seems likely.
Netflix continues to trend higher, and that means that $300 is still on target.
Did you see JD.com? Wow, what a breakout, finally. Maybe now it can finally get back to $34.80 we have been looking for.
That call for Intel to pull back isn’t looking so good at this point. I think I’m wrong. $59 seems likely at this point. Oh well. I try. I’m not perfect. Intel’s Big Gains May Soon Fizzle
Enjoy your evening.
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.