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FEBRUARY 11, 2020
STOCKS: FB, NVDA, AMD, BA
MACRO: SPY, EWG
MICHAEL KRAMER OWNS SPY CALLS
Stocks are rising around the world, and the US is no different, with S&P 500 futures rising by 10.3 points. The German DAX is very close to setting a record of its own in a bid to confirm the bullish optimism in the US markets.
S&P 500 (SPY)
The S&P 500 futures have pushed beyond resistance and their prior highs at 3,357. Additionally, the small optimism index came in better than expected at 104.3 versus 103.2. 3,357 is likely is now act as a strong level of support going forward, and is likely to be the starting point for the S&P 500’s push to 3,400.
Facebook (FB)
Facebook is falling some today, after being downgraded by Pivotal Research to Sell with a $180 price target. The stock has found a meaningful level of support at $212, and I think the stock falls to around $203.
Nvidia (NVDA)
Nvidia is rising today and testing resistance at $268 after having its price target raised to $300 at Opco. Believe it or not, an increase above $268 makes Nvidia’s come back complete and sets up a push back to their all-time highs around $295.
Boeing (BA)
Boeing is rising once again and continues to push on to $351. If the stock can push beyond $351, then Boeing can increase back to $374.
AMD (AMD)
AMD is testing resistance at $53 and a break above $53 sets up that climb to around $59.
-MIKE
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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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