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!
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STOCKS: TSLA, AMZN, TWTR, SPLK, DIS
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN TSLA, DIS, SPLK
- S&P 500 Futures +5.5 points
- US 10-Year 1.75%
- VIX 12.9
- Oil $58.42
- Dollar Index 98.01
- Shanghai -0.63%
- HK +0.48%
- Nikkei +0.32%
- KOSPI +0.26%
- FTSE +1.41%
- DAX +0.25%
S&P 500 (SPY)
It is another quite day in the stock market with futures pointing to a slightly higher opening. The futures have broken the uptrend, and we need to be mindful of this. Overall support for the futures is around 3,085. Premium content – Morning Commentary 11.22.19
Tesla’s stock is falling some today after the reveal of its cybertruck. The design of the truck is certainly interesting, but it isn’t likely to boost the stock, and like I have been saying is likely a sell the news event. The next significant level of support is around $333, and move above $360 at this point doesn’t seem that strong.
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I’m fascinated by how Amazon has become a due nothing stock and continues to grind lower at a snail’s pace. $1700 appears to be the direction that the stock is heading.
Twitter is attempting to break out and rise above resistance at $29.70. I noted some bullish trends in the stock in a Forbes article early this week, with the potential for shares to increase to around $31.90.
Splunk is rising after better results and a slew of positive comments from the sell-side. The stock is cruising past resistance at $132 with the potential to increase to around $141.
Disney looks as if it has a flag pattern that has formed, and that means that shares may still be heading higher maybe to $157.
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