Stocks Are Heading Towards The Light At The End of The Tunnel
Stocks are rising on August 29 on the hopes of a US-China trade deal sending shares towards the light from the depths of the abyss.

Stocks Are Heading Towards The Light At The End of The Tunnel

August 29 – Stock mentions: SPY, IWM, VXX, AAPL, AMD, SLV, TSLA, T

Michael Kramer and the clients of Mott Capital own AAPL and TSLA

US Markets

  • S&P 500 Futures +27.25
  • US 10-year 1.49%
  • Oil $56.16
  • VIX 18.21
  • Dollar Index 98.26

International Markets

  • Nikkei -0.09%
  • HSI +0.34%
  • Shanghai -0.10%
  • KOSPI -0.4%
  • DAX +1.2%
  • UK FTSE +1.13%

Heading Towards The Light

When a trade goes wrong, and the market gives you a chance to get out, you take it. You get out as fast as you can.

If I were President Trump, and China is openly saying they want to make a deal, you take it. Figure it out, and get it done. Even if it’s not a great deal on paper, it can be spun however you want it. This has dragged on long enough, and everyone is tired of hearing about.

Once that is behind you, run to congress and do a $2 trillion infrastructure bill and finance it with 30-year debt. Take advantage of these record low rates.

That is what I would do, but then again, I’m not the President, and probably never will be.

S&P 500 (SPY)

The good news is that the S&P 500 future are rising above 2,900 and now moving towards 2,935 once again. It moves us closer to the edge of the forest.

S&P 500 futures

VIX

The VIX is heading lower today, dropping to around 18.5 and heading quickly to 17.50

vix

Russell (IWM)

The IWM, a proxy for the Russell, is breaking a downtrend heading towards $151.

iwm

Apple (AAPL)

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Apple is heading back towards resistance at $209.50 and probably back towards $213

apple, aapl

AMD (AMD)

AMD is also breaking a downtrend and is heading towards $32.70.

amd

Tesla (TSLA)

Tesla is rising towards the upper end of the channel around $223.

tesla, tsla

AT&T (T)

AT&T is rising today, and I think the stock is heading to $36.20. AT&T: The Trend Is Your Friend

T

Silver (SLV)

Man, those options traders nailed the SLV trade. It’s up past my target of $17.25. I first noted heavy options buying in the SLV on August 12 Betting That Silver Continues To Rise.

Silver, slv Stocks are rising on August 29 on the hopes of a US-China trade deal sending shares towards the light from the depths of the abyss.

Ok, enjoy the day. Lots of work to be done, but heading in the right direction.

-Mike

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