Subscribe to receive this FREE daily commentary directly in your email
September 26 – Stock mentions: SPY, MU, TSLA, AMZN, AMD, NKE
Michael Kramer and the clients of Mott Capital own TSLA
For anyone that would like to watch me present at Stocktobfest tomorrow, you can use this link to get a notification. Anyway, the topic, if you are interested is on why I think the market still has further to rise.
I should have done a topic on something like Oh Recession, Recession, Where Are You? It’s Been Nearly A Whole Year Now. October 3 was the peak in 2018, remember?
https://events.stocktwits.com/stocktoberfestwest/
I go on at 10:30 am Pacific Time.
I could get used to this stock market closing at 1 pm thing; there is something nice about it. I’m not so sure how it would work out in the morning. I got up eight today, only to discover the market had already been open for 3 hours. Strange.
MACRO
S&P 500 (SPY)
Regardless stocks didn’t have a great day falling by 24 bps. What is worse to some degree is that the index failed yet again at 2986. However, the good news is that a small uptrend has recently formed. I’m curious to see how this works out between the two trend lines.
It would seem that a megaphone pattern has been created in all of this mess. It established that dread loch-ness monster pattern we tend to hear about from time to time.
It is just one of those nasty patterns that look terrifying, but in reality, means nothing, because I made it up. But still, once again it proves that charting is in the eye of the beholder.
Back to reality, it is tough to say at that this moment in time which way the market wants to push. If the index fails again at 2985 tomorrow, I’d have to believe our next move is lower.
STOCKS
Micron (MU)
Micron surely won’t be helping the stock market. It is falling in the after-hours to support at $45.50. It will be necessary for that level to continue to hold. A drop below $45.50 likely sends it back towards $42.
I didn’t listen to the call, but I did quickly look at the guidance. Revenue guidance was stronger than expected, but earnings were weaker than expected. That is a tale of margin compression. Micron and margin compression-only mean one thing, a lower stock price.
Tesla (TSLA)
I can’t believe it took this long for a “leaked” email to surface on Tesla’s delivery numbers. I was starting to get worried that perhaps the numbers would miss. Well, today, the worries stopped. A “leaked” email revealed that the company is very close to reaching 100,000 deliveries this quarter. So much for the demand issue, everyone was screening about in May. Now if those gross margin numbers can come up, then the stock would be worth a lot more.
Nothing changes for the chart, with resistance still at $253.
Amazon (AMZN)
Amazon is starting to look as if the stock is in trouble. I’m beginning to think $1620 will soon be a reality.
AMD (AMD)
AMD continues to look weaker too, with $27.20 on the horizon.
Unlock Deeper Insights with Exclusive Member-Only Video Content on The Market Chronicles YouTube Channel – Just $34.99/Month
8:59
Join this channel to get access to perks:
https://www.youtube.com/channel/UCIIr1ooRsSukPL7rKNr0VHQ/join
Please check out my content on Substack and Seeking Alpha:
https://www.themarketchronicle.com/
https://seekingalpha.com/affiliate_link/Youtube81624
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.
3
YouTube Video VVVNT0lJcjFvb1JzU3VrUEw3cktOcjBWSFEuWU5tWHY1cXNPaTg
8:35
Join this channel to get access to perks:
https://www.youtube.com/channel/UCIIr1ooRsSukPL7rKNr0VHQ/join
Please check out my content on Substack and Seeking Alpha:
https://www.themarketchronicle.com/
https://seekingalpha.com/affiliate_link/Youtube81624
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.
2
YouTube Video VVVNT0lJcjFvb1JzU3VrUEw3cktOcjBWSFEuYzV6bkZLdWVLOGc
6:31
Join this channel to get access to perks:
https://www.youtube.com/channel/UCIIr1ooRsSukPL7rKNr0VHQ/join
Please check out my content on Substack and Seeking Alpha:
https://www.themarketchronicle.com/
https://seekingalpha.com/affiliate_link/Youtube81624
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.
4
YouTube Video VVVNT0lJcjFvb1JzU3VrUEw3cktOcjBWSFEua0Z3LVVqbFNIUG8
Nike (NKE)
Nike had a significant break out followings its results. It looks like it still has further to rise, to maybe $95.50.
Have a good one!
-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.
Subscribe to receive this FREE daily commentary directly in your email
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.
Dollar Dependent
Mott Capital's Market Chronicles 7 hours ago