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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April 10, 2019
Michael Kramer and clients of Mott Capital owns shares of Apple and Disney
- S&P 500 Futures +8 points
- 10-Year Treasury 2.50%
- Oil $64.42
- VIX 13.92
- Dollar Index 96.94
- China Shanghai +0.07%
- Hong Kong HSI -0.13%
- Japan Nikkei -0.54%
- South Korea KOSPI +0.49%
- UK FTSE +0.08%
- German DAX +0.43%
- Copper $2.93
- Platinum $895.80
- Silver $15.21
- Semis 1464.50
South Korea had a nice move higher after a slow start. The index is now knocking on the door of a big break out should it rise above 2,225. It may result in a rise towards 2,360.
S&P 500 (SPY)
S&P 500 futures are pointing to a higher opening with resistance taking shape around 2,891 if we can clear that resistance level, the index finally has a path towards 2,915.
Disney was upgraded to outperform from market perform at BMO with a $140 price target. Tomorrow is the companies big investor day ahead of the details surrounding the launch of their Disney + streaming service. The company is on the verge of a big return to growth, and perhaps the stock begins to reflect this. The stock may prove to be an incredible bargain trading at 16.4 times next’s year earnings estimates.
Gilead was upgraded today to buy from neutral at UBS, with a $77 target. This stock has done nothing but have declining revenues for years. If there is a place to upgrade a stock, this would be it for Gilead since it is trading at nearly its lowest point in some time.
Apple was downgraded at HSBC to reduce from hold, with a $180 price target. The stock is trading lower this morning after its mid-day turn around yesterday. $194 is support for the stock in the near-term.
AMD’s price target was increased at Cowen to $33 from $28. The stock may have a bit further to fall first as the gap gets filled around $26.75.
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.