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September 9, 2020
STOCKS – TSLA, AAPL, SHOP
Macro – QQQ,UUP
Mike’s Reading The Markets (RTM) Premium Content – NOW WITH A 2 WEEK FREE TRIAL
- Stocks Teetering At Key Levels
- When Adjusting For Growth The S&P 500 Is It Most Expensive In 40 Years
- Market Getting Slammed
- For The Week Of September 8, Plus New Theme Tracker
- This Pullback May Be Different
- We Will Find Out Fast What Happens Next
- A Drop To 2860 On The S&P 500 Is A Real Possibility
- AMD May Fall 11% More
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN TSLA AND AAPL
MICHAEL KRAMER HAS QQQ PUTS
Stocks are bouncing back some this morning, but after big sell-offs, as we have seen, one must be careful of the gap higher. We could easily see that gap up fade and fill-in as the morning and day goes on. At the moment, we are trading back up to around $273.50 on the Qs, which was a critical intraday support level broken in the final hour of trading yesterday. The next level up comes about $275; a failure to advance beyond $273.50 or $275 likely brings the sellers back out and pushes the ETF lower, filling the gap.
Dollar
The dollar finally broke above 93.50, with the next big stop around 94. Once it clears 94, I expect a more significant rally on to 96.
Apple (AAPL)
Apple is rebounding today, back to resistance around $115-116. This will be a significant region to test, and I expect that the stock will fail at that level and move lower.
Tesla (TSLA)
Tesla is rebounding some today, but I do happen to think the stock needs to fall further and fill the gap around $275.
Shopify (SHOP)
Keep an eye on SHOP today for a potential break of support at $911.
Good Luck today
-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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