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February 4, 2020
Stocks – DIS, NFLX, AMD, UBER, ROKU
Macro – SPY
Reading the Markets Premium Content from February 4
- Tesla’s Growth Story Has Entered Phase 2
- PULLBACK OVER? SEEMS LIKE IT
- Netflix Is Approaching A Major Breakout
- Stocks Rise, As VIX Trades Unwind
Michael Kramer and the clients of Mott Capital own DIS and NFLX
Stocks had a strong rally today rising by around 1.5% to 3,298. The market has recovered all the losses from Friday and then some. The 3,305 level appears to be a bit of a challenge for the S&P 500, but I am guessing that the market continues to push higher back to its all-time highs.
The index managed to bounce right off the RSI uptrend, keeping the long-term uptrend in the S&P 500 in place.
Disney (DIS)
Disney was popping after beating results on both the top and bottom lines and posted better than expected subscribers with 26.5 million for Disney+. Good, for the options guys, they seemed to nail it again. The stock was at $143, and then again at $137 when they were active. The next level of resistance comes around $147 and then at $150.
Netflix (NFLX)
Netflix had a big day today, and again, I saw more bullish betting in this name, while it broke above a significant downtrend. Premium content – Netflix Is Approaching A Major Breakout
Uber (UBER)
Meanwhile, Uber continues to see some strength heading into results, with the stock approaching resistance around $40.60. I have also been seeing some bullish betting that suggests the stock rises above $41 following results; I noted it this free article I wrote for Forbes.
Roku (ROKU)
I know people are probably cheering Roku’s move higher today, especially after my bearish article yesterday. But it isn’t time to celebrate yet, notice how the stock continues to fail at the downtrend. Roku May Fall On Massive Volatility Following Results
AMD (AMD)
AMD is moving higher and appears to be working towards to fill that gap up at $51.
Have a great night!
-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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