Stocks Jump On February 4 And Are Getting Ready To Take Out All-Time Highs

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.

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February 4, 2020

Stocks – DIS, NFLX, AMD, UBER, ROKU

Macro – SPY

Reading the Markets Premium Content from February 4

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.

S&P 500 , spx

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. 

disney, dis

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

netflix, nflx

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

Uber, uber

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

roku, roku

AMD (AMD) 

AMD is moving higher and appears to be working towards to fill that gap up at $51.

amd

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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