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November 11
Stock mentions: MU, QCOM, BABA, CSCO
Macro mentions: SPY, HK
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN CSCO
US Markets
- S&P 500 Futures -12 Points
- US 10-Year – Bond Market Closed
- Dollar Index 98.26
- Oil $56.36
- VIX 13.29
International Markets
- KOSPI -0.61%
- Nikkei -0.26%
- China -1.83%
- HK -2.62%
- UK -1.28%
- DAX -0.53%
Stocks are falling here in the US, but given the move lower in some international markets, the declines don’t seem all that bad. Stocks in HK and China tumbled as tensions increased in HK after two protestors were injured.
S&P 500 (SPY)
With the S&P 500 futures are pointing to a lower opening, we can look for support in the index at 3067. Based on prior days trading, pullbacks to this point have been bought.
Micron (MU)
Micron is falling today after Mizuho lowered its price target to $50 from $53. The stock has been struggling of late, and support for the stock comes around $45.50.
Cisco (CSCO)
Cisco is trading lower this morning after Piper downgraded the equity to neutral from overweight and cut its price target to $51 from $55. The stock should find a layer of technical support around $47.90.
Qualcomm (QCOM)
Qualcomm is also trading lower today after Morgan Stanley downgraded the stock to Equal Weight. The stock has had a huge move higher in recent sessions, and will likely find support around $88.30. However, it isn’t likely to be that bad today.
Alibaba (BABA)
Alibaba is seeing record sales for its singles day event. Still, the stock is not moving higher. There is a gap that needs to be filled at $184.
Have a good one
-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.
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This report contains independent commentary to be used for informational and educational purposes only. Michael Kramer is a member and investment adviser representative with Mott Capital Management. Mr. Kramer is not affiliated with this company and does not serve on the board of any related company that issued this stock. All opinions and analyses presented by Michael Kramer in this analysis or market report are solely Michael Kramer’s views. Readers should not treat any opinion, viewpoint, or prediction expressed by Michael Kramer as a specific solicitation or recommendation to buy or sell a particular security or follow a particular strategy. Michael Kramer’s analyses are based upon information and independent research that he considers reliable, but neither Michael Kramer nor Mott Capital Management guarantees its completeness or accuracy, and it should not be relied upon as such. Michael Kramer is not under any obligation to update or correct any information presented in his analyses. Mr. Kramer’s statements, guidance, and opinions are subject to change without notice. Past performance is not indicative of future results. Neither Michael Kramer nor Mott Capital Management guarantees any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment commentary presented in this analysis. Strategies or investments discussed may fluctuate in price or value. Investments or strategies mentioned in this analysis may not be suitable for you. This material does not consider your particular investment objectives, financial situation, or needs and is not intended as a recommendation appropriate for you. You must make an independent decision regarding investments or strategies in this analysis. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Before acting on information in this analysis, you should consider whether it is suitable for your circumstances and strongly consider seeking advice from your own financial or investment adviser to determine the suitability of any investment.
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