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STOCKS: ACAD, MSFT, FB, AMZN, GE
MACRO: SPY
MICHAEL KRAMER OWNS SPY CALLS
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN ACAD, MSFT
In 1 More Day
Michael will be hosting a live streaming event for members of Reading The Markets for Seeking Alpha and StockTwits on February 13 at 9 PM ET. It will focus on how he uses fundamentals, technicals, and options market analysis to find stocks on the move. As well as taking questions from members!
He will be reviewing mostly the basics of Technical Analysis and Option Trading
S&P 500 (SPY)
The S&P 500 rose by about 60 basis points on February 12, to finish the day around 3,380. I refined my resistance level to 3,376 up from 3,373. Not that it matters much, still I like to have some levels of accuracy. Regardless, 3,400 is now within reach, and less than 1% away. The bigger question is what happens from here? Not much has changed around my longer-term price target for 3,600 on the S&P 500.
But based on the current trends, it seems that the market could arrive at my year-end target a full 6-month earlier than planned, so in June. Additionally, there could be more upside to that, potentially as high as 3,750. This would an extremely aggressive call on my part, and I think if we reach 3,600 by June, the odds of a run to 3,750 increase.
I prefer the slow and steady rise to around 3,600 over the next few months, but whatever, I’m not going to fight.
Acadia (ACAD)
Well, Acadia finally announced it’s earnings date will be on February 26. The quarter will only 2/3’s of the way over by then, ahh, so what. At least that means first quarter guidance should be pretty accurate, we hope. The stock continues to climb and is inching closer to resistance at $45.80. However, as I noted today in the midday update, the RSI has broken that downtrend, and I think that means the stock will continue higher beyond $45.80.
Facebook (FB)
Facebook snapped back today, but still, it looks more like a gap fill, with resistance still hovering around $212. I’m still in the camp that this stock declines back to $203.
Amazon (AMZN)
I noted some bullish option betting today in an article for Amazon, suggesting the stock rises towards 2,265. Free story – Amazon‘s Recent Rally May Only Be The Start
GE (GE)
GE is rising and now very close to climbing above resistance $13.20. An increase above that sends that stock higher towards $14.70.
Microsoft (MSFT)
Microsoft seems to have found a level of support at $184 for the moment. Should that level fail to hold, the next region would come around $179.
Have a great night
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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