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FEBRUARY 6, 2020
STOCKS: MSFT, FB, INTC, BABA, UBER
MACRO: SPY, EWG, EWY, EWJ, IWM, FXI
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Stocks are rising here in the US with the S&P 500 futures pointing to a gain of about 8 points to 3,343 a record high as of 6 AM ET. While markets in the US are reaching new highs, we can’t confirm this move with international markets or any markets yet. Interestingly while you can’t notice it here in the US, you can most certainly see in foreign markets, the giant gap fills taking place.
Markets Filling Gaps
This is a chart of South Korea, where we can see the giant gap fill taking place back up to January 23 levels.
This is the chart of Shanghai.
The Nikkei
and Germany
Then of course this is a chart of the Russell
S&P 500 (SPY)
So I guess, at this point, what I’m getting at, is that I’m not sure it is time to give the all-clear yet that the bull is fully back and that caution can be avoided. The S&P 500 futures are higher, but they have pulled back off their highs to some degree as well.
Copper
Copper prices have been rebounding too, but not anywhere close to the pre-selloff levels.
Oil
Oil prices are also rebounding, but to this point have been unable to get through resistance at $52, which is a significant level to watch here.
Alibaba (BABA)
Alibaba is rising today, and yesterday we saw some options buying that indicated the stock could rise to around $335. Free article – Alibaba’s Recent Rally May Only Be Starting
Facebook (FB)
Facebook is rising today a bit, but keep an eye on resistance around $212. An increase above $212 sends the stock higher back towards $220, but a failure back to $203, and probably lower.
Microsoft (MSFT)
Microsoft is also trading higher, and yesterday I noted some bullish options betting for this stock for the premium readers, that the stock may still have further rise to around $193. Premium content Why Microsoft Stock Still Has Further To Rise
Intel (INTC)
Intel continues to push higher back to around $69. The stock found some solid support around $64 and appears to be heading back to resistance, with the potential to push higher towards $71.50.
Uber (UBER)
Uber will report results tonight, and based on some bullish betting, I thought it could rise to around $41.60. Free article on Forbes – Uber’s Stock May Rise Following Results On Massive Volatility
-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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