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November 7
Stock mentions: ROKU, FCX, SWKS, NVDA, NFLX
Macro mentions: SPY
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN SWKS, NFLX
US Markets
- S&P 500 futures +10.75 points
- US 10-Year 1.88%
- Oil $57.11
- VIX 12.58
- Dollar Index 97.93
International Markets
- Nikkei +0.11%
- KOSPI +0.01%
- Shanghai –
- HSI +0.57%
- DAX +0.73%
- FTSE +0.35%
MACRO
S&P 500 futures are rising on hopes that the trade war may de-escalate further, as both sides have “agreed” to start canceling tariffs in phases. As I noted last night, it seems that the idea that the market may pull back is fading and that a continued march higher may continue. The futures are now trading above their previous highs, and that would suggest that 3084 may act as support. I’m not perfect.
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- The Market’s Relief Rally Faces A Major Technical Wall
- A Surging Dollar, Negative Gamma, and the Battle Over 6,800
- Rising Rates, Oil, and Dollar Pose Risk to Stocks
- Volatility Crush Sends Stocks Higher Even as Oil and Rates Surge
- The S&P 500 And VIX May Test Key Gamma Levels Amid Rising Uncertainties
Freeport (FCX)
Keep an eye on Freeport today; the stock is getting closer to a break out at $11. Should that happen, $11.50 seems possible.
Skyworks (SWKS)
Skyworks is approaching resistance at $100. Should the stock break out, it could rise to around $111.
Nvidia (NVDA)
Nvidia is still on pace to get to $217.
Netflix (NFLX)
Netflix is holding support at $285, and as long as that continues shares continue to push towards $300.
Roku (ROKU)
Roku, what can I say, if you’re lucky it holds support around $122. If not, what can I say? $100.
-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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