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FEBRUARY 5, 2020
STOCKS: NFLX, DIS, MU, INTC, AMZN
MACRO: SPY, OIL
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN NFLX AND DIS
ADP Job Report, and ISM Non-Manufacturing data later this morning.
S&P 500 (SPY)
Stocks are adding to their gains on February 5, with the S&P 500 Futures rising by another 80 basis points to 3,325. The big news here is that the S&P 500 has successfully taken out some key levels of resistance along the way. The next significant level of resistance doesn’t come until the all-time highs at 3,336.
The rally isn’t just taking place in the US, but once again around the globe, with markets up in Europe and Asia.
Oil
Even oil is very close to a significant reversal here, potentially sending it back to $54.
Micron (MU)
Micron is rising once again, and the next level for the stock appears to be at $58.66.
Intel (INTC)
Intel is rising today and continues to bounce after filling the post-earnings gap. Remember, we have seen some bullish betting in this stock in recent days, with the next level of resistance around a price of $69.
Amazon (AMZN)
Amazon is trying to get over resistance at $2,060; if it can manage to hold above these levels this morning, the next level to look for comes around 2,134.
Disney (DIS)
Disney is rising some but not much, despite strong quarterly results and impressive subscriber numbers for Disney+. The next region of resistance appears to be in the $147 to $148 area.
Netflix (NFLX)
Meanwhile, Netflix continues to push higher, and we saw some more bullish betting in the stock yesterday, with the potential for the shares to push higher towards $385. Premium content – Netflix Is Approaching A Major Breakout
Have a good
-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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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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