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FEBRUARY 11, 2020
STOCKS: UBER, AMZN, FB, ROKU, INTC
MACRO: SPY
MICHAEL KRAMER OWNS SPY CALLS
S&P 500 (SPY)
Stocks gapped higher, and for a change, they decided to fill the gap, probably because I thought they wouldn’t fill the gap, but they did. No sweat. The good news is that the trend in the S&P 500 remains higher and that 3,346 has not been tested yet. It means that 3,372, for now, is the short-term resistance level, with room up to 3,400 still in place. Today’s price action changed nothing for me, except giving us a sense of where some resistance may lie
Roku (ROKU)
So let’s talk about Roku. Today I saw some bullish betting that made me do a 180 and go from bearish to bullish, plus the stock broke a downtrend. So, yeah, I hate switching my view two days before earnings, but I can’t go against the trend and activity I’m seeing. You can read more in my premium area – Why My Bearish View On ROKU May Be Wrong And The Stock May Surge
Facebook (FB)
Facebook fell today, as we noted the downgrade this morning, and it has now failed at resistance. Now $203 is the next level of support. Remember, I noted some bearish betting in this one late last week. Free story- Facebook Is Now An Aging Growth Story
Uber (UBER)
Uber continues to look strong post earnings and has crossed $40.60, with the next resistance level around $42.50.
Amazon (AMZN)
Amazon rose above 2,134 today, and now that level will become support, and sure enough, it held. I have been putting it off, but now I seriously have to sit down and figure out was this stock is going.
Intel (INTC)
I noted some bullish betting in Intel today in this free article I wrote up; it seems like the same buyers I saw last week. If the stock can clear resistance at $69, it could push higher towards $71.40.
-Mike
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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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