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!
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Stock mentions: AMZN, V, INTC, NVDA, VZ
Macro: SPY, ACWI, EWJ, EWG
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN V, VZ, AAPL, MSFT, AND MA
Reading The Market Premium Articles:
- S&P 500 Futures +6 Points
- US 10-Year 1.75%
- VIX 13.73
- Oil $56.19
- Dollar Index 97.71
- Shanghai +0.48%
- HSI -0.49%
- KOSPI +0.11%
- Nikkei +0.22%
- FTSE -0.56%
- DAX -0.16%
China is asking the US to remove tariffs in exchange for AG purchases. – Just remember this headline is already out, so if for some reason the market sells-off mid-day on a headline like this, it is old news.
Just look at the Nikkei go, it is nearing a break out that could send it back to highest prices since 2018. Can’t say its an all-time high, because that happened in 1989, and has never gotten back.
The DAX is on the doorstep of a break out too.
Do not underestimate what these two export economy stock markets are trying to tell you, and what they likely mean for the S&P 500. I talked about it today in this article I wrote for Investing.com – Are Global Equity Markets About To Take A Dramatic Surge Higher?
I have had this chart tucked in my back for some time, waiting for the moment to throw it out there, that time is now. Just look at this chart of the ACWI ETF. It is knocking on the door of a significant breakout, and when Apple and Microsoft are the two most significant holdings, there is no way the S&P 500 is not going up if this ETF breaks out.
S&P 500 (SPY)
Anyway, S&P 500 resistance remains at 3014.
Resistance is at $1703, watch for a test of resistance early, and potential for a retest of support at $1620 mid-day.
Visa continues to deliver mid-teens earnings growth year after year. The stock trades at just 24 times fiscal 2020 earnings estimates? I have owned this stock since $44.70. There would be no e-commerce without Visa or Mastercard; I own both. I think the stock is fine and continues to work higher towards $189.
Intel is rising today after reporting good results; $ 53.60 is support and it likely on its way to $56.
Nvidia is nearing that big break out if it clears to $200. I think it goes to $218.
Verizon feels like a coiled spring ready to push to prices not seen since 1999.
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.