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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Stock mentions: ROKU, FCX, SWKS, NVDA, NFLX
Macro mentions: SPY
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN SWKS, NFLX
- S&P 500 futures +10.75 points
- US 10-Year 1.88%
- Oil $57.11
- VIX 12.58
- Dollar Index 97.93
- Nikkei +0.11%
- KOSPI +0.01%
- Shanghai –
- HSI +0.57%
- DAX +0.73%
- FTSE +0.35%
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.
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 is approaching resistance at $100. Should the stock break out, it could rise to around $111.
Nvidia is still on pace to get to $217.
Netflix is holding support at $285, and as long as that continues shares continue to push towards $300.
Roku, what can I say, if you’re lucky it holds support around $122. If not, what can I say? $100.
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.