Stocks Are Pointing To A Lower Opening on December 10, Filling The Gap

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.

Otherwise, enjoy the column!

Subscribe to the Monster Stock Market Commentary and join the 2,143 subscribers getting it for FREE every day!

Sign-up For My Premium Room

DECEMBER 10, 2019

STOCKS: NFLX, NXPI, AMZN, VZ, NVDA

MACRO: SPY

MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN VZ, NFLX, NXPI

US Markets

  • S&P 500 Futures -10 points
  • US 10-year 1.81%
  • Dollar Index 97.50
  • VIX 16.47
  • Oil $58.65

International Markets 

  • Japan -0.09%
  • HK -0.22%
  • China +0.10%
  • KOSPI +0.45%
  • Germany -1.35%
  • UK -0.86%

S&P 500 (SPY) 

Stocks this morning are falling in the US with S&P 500 futures pointing to a 10 point drop. Certainly, nothing to worry about, and substantially filling the gap from Friday’s sharp move higher. Exactly as I expected to happen when I noted it yesterday in my midday commentary and last night’s write-up. Premium content – Stocks Gearing Up For Afternoon Drop

There is a downtrend that has formed, and that is the line I will be paying the most attention too at the moment. I don’t expect a pullback in the market to last for very long. 

S&P 500, spy

Netflix (NFLX) 

Netflix is falling today after a downgrade by Needham to underperform from hold. It seems they believe the company will lose 4 million subscribers US subscribers in 2020, due to competition from newer services. I find this to be a joke, to be honest. I have Prime, Netflix, Disney+, and Hulu, and I can honestly say that the other three services do not compare to Netflix, I actually also have Apple, but I have never even log-in because it was free. It is a joke; I find it highly unlikely anyone will cancel their Netflix to switch to any of these services only. They simple do not offer enough content to keep me in engaged. Sorry. $295 is support. 

netflix, nflx

NXP (NXPI)

BofA is raising its price target to $145 for NXPI. If the stock can get over $121, it can move up to $127.

nxpi, nxp

Yesterday, I noted I was seeing bullish options betting Amazon and an improving technical chart. Premium content- Amazon Is Seeing Bullish Betting, Suggesting 7% Increase

amazon, amzn

Nvidia (NVDA) 

Nvidia continues to fail at resistance at $212. $198 is next. 

nvidia, nvda

Verizon (VZ) 

Verizon is once again testing resistance at around $61. Again, this could lead to an increase to approximately $64 if it can ever break out.

verizon, vz

-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.   

[mailpoet_subscribers_count]
2,143
[mailpoet_subscribers_count]
2,143
%d bloggers like this: