Stocks Are Set To Rise on October 9 as Trade Optimism Brightens

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.

Otherwise, enjoy the column!

Subscribe to the Monster Stock Market Commentary and join the 2,065 subscribers getting it for FREE every day!

Follow Us on StockTwits

October 9- Stock mentions: SPY, ROKU, TSLA, NVDA, TWTR AMZN

Michael Kramer and the clients of Mott Capital own TSLA

US Markets

  • S&P 500 Futures +24 points
  • US 10-Year 1.56%
  • Dollar Index 99.04
  • Oil $53.15
  • VIX 19.1

International Markets

  • Shanghai +0.39%
  • HSI -0.91%
  • Nikkei -0.61%
  • Kospi +1.21%
  • DAX +0.87%
  • UK +0.47%

MACRO

S&P 500 (SPY)

Stocks are rising this morning on positive headlines around trade talks between the US and China. The result, S&P 500 futures are bouncing back sharply from yesterday’s decline. We can see that the futures continue to trend higher and again are bouncing off that uptrend once again.

S&P 500, spy

Soybeans

Soybean prices are breaking out this morning, rising above resistance at $9.13. Certainly, a good sign that perhaps some parts of the markets are expecting something positive to come from the latest round of US/China trade talks.

sobeans

STOCKS

Roku (ROKU)

Roku is rising today after it was upgraded at Macquire to Outperform from Neutral while raising its price target to $130 from $110. The stock has managed to hold on to support at $100 and is now breaking the downtrend, which opens the possibility for the stock to rise to $122.

roku

Nvidia (NVDA)

Nvidia received some positive comments from Piper Jaffray, and the stock is rising some on those comments. Again $178 is the level that needs to hold for the stock to push higher.

Nvidia, nvda

Tesla (TSLA)

Tesla appears to be consolidating in a symmetrical triangle, and that means the stock’s next move may be higher towards $253.

tesla, tsla

Twitter (TWTR)

Twitter has that falling wedge pattern, and if it can manage to get above $40.50, perhaps it can make that move towards $43.

twitter, twtr

Amazon (AMZN)

If Amazon can hold on to this support level at $1700, perhaps it can make its way back to $1770.

amazon, amzn

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.

[mailpoet_subscribers_count]
2,065
[mailpoet_subscribers_count]
2,065
%d bloggers like this: