Stocks May Fall on October 7-Don’t Get All Doom and Gloom Yet

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.

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October 7 – Stock mentions: SPY, UBER, AAPL, NFLX, TWTR, TSLA

Michael Kramer and the clients of Mott Capital own AAPL, NFLX, and TSLA

US Markets

  • S&P 500 Futures -6points
  • 10-Year 1.52%
  • Dollar Index 98.91
  • Oil $53.05
  • VIX 18.33

International Markets

S&P 500 (SPY)

The S&P 500 futures are trading lower this morning on headlines that China is reluctant to make a broad trade deal. Regardless, the S&P 500 futures are holding support around 2,935 and the uptrend. So don’t get all doom and gloom yet. I still think we are heading higher towards 2,985.  – Check out my premium article: If You Thought Last Week Was Fun, Just Wait Until This WeekFirst two weeks are free to try, cancel if you hate it – I promise to not get insulted. 

S&P 500, spy

UBER (UBER)

UBER is rising this morning after Citigroup upgraded the stock to a Buy with a $45 price target. The stock is trading at resistance at $30.50 this morning. Should the stock rise above that price it could continue higher to $32.10

UBER

Apple (AAPL)

Apple launched its newest phone, but attention is turning to 2020 already. According to reports, the company is likely to start making a cheaper iPhone next year. The stock is flirting with moving towards its all-time highs.

Netflix (NFLX)

Netflix is trading around resistance at $273, and the stock needs to break out to push back to $284. NFLX double bottom on the RSI, suggesting shares are oversold.

netflix, nflx

Twitter (TWTR)

Twitter is hovering around resistance at $40.35, and a falling wedge pattern may suggest the stock is getting to reverse higher and head towards $43.

twtr, twitter

Tesla (TSLA)

Tesla has been going nowhere, but the one thing that seems clear is that support continues to hold at $225.

tesla, tsla

Have a great 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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