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DECEMBER 4, 2019
STOCKS: MA, MO, NVDA, LLY, QCOM
MACRO: SPY
Reading The Markets Premium Content on Seeking Alpha Marketplace
- Stocks Are Bouncing Back – mentions: SPY, XBI, CRM, SHOP, ROKU, MU
- MORNING COMMENTARY 12.4.19
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN MA
Stocks had a good day, bouncing back some from yesterday’s down day. The ISM non-manufacturing index came in lower than expected 53.9 versus estimates for 54.5, and down from last months 54.7. It corresponds to a GDP growth rate of about 1.9%, which is mostly in line with what we have seen from other data points recently. So it seems at this late point of the year, the recession or even near-zero growth is not on the horizon.
S&P 500 (SPY)
The S&P 500 did manage to close above 3,110, and I view that as a definite positive. I think it sets us up for a potential move a bit higher to the trend line up at 3,140 tomorrow.
Nvidia (NVDA)
Nvidia failed at resistance at $212, and the RSI continues its trend lower. I think that it means the stock is going to head back to $198.
Eli Lilly (LLY)
Eli Lilly is very close to breaking out should it rise above resistance at $119. The RSI is trending higher, and it looks healthy, suggests the stock could go to $123.
Qualcomm (QCOM)
Qualcomm tried to get back over resistance today at $82 but was not able too. Not a great sign for the stock. I still think there is a good chance shares fall to roughly $76.50.
Altria (MO)
Here’s a new one Altria, the stock appears it has broken free of a falling wedge and is challenging resistance at $51 and potentially on its way to $58.
Mastercard (MA)
Mastercard’s RSI is changing trend as well, and perhaps that means the stock is setting up to take out its all-time highs before year-end. That would be nice for me since it has become my largest holding. One can only hope.
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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