Subscribe to receive this FREE daily commentary directly in your email
DECEMBER 21, 2019
STOCKS: NFLX, TSLA, AMD, MU, T
MACRO: SPY, IWM
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN NFLX, TSLA
MICHAEL KRAMER OWNS IWM JAN $166 CALLS
For most people the Flu would be enough to sideline them. But even with a 102 fever the Monster Market Commentary gets pushed out, because the market waits for no one.
S&P 500 (SPY)
Stocks continued to push higher this past week, with the S&P 500 rising to 3,220. The index managed to avoid the potential rising wedge pattern; I was watching, and instead pushed higher above the upper end of the trading channel that formed on November 4. The good news is that stocks are likely to continue to rise this week with the potential for the S&P 500 to rise to around 3,255.
Russell (IWM)
The Russell also finished the week off higher, closing right at resistance at 1673. I continue to prefer the Russell over the S&P 500 into year-end. I think Russell can rise to around 1710, and it has more ground it needs to cover. That is likely one reason why I have held on to my January $166 IWM calls.
Netflix (NFLX)
Netflix had a great week rising back to resistance at $336. I had noted earlier this week in a mid-day commentary that I thought if the stock could get over $336, it could look to fill the gap up to $362.
Tesla (TSLA)
Tesla is also rocketing higher, and based on some bullish options activity and the chart, I think there is a chance to increase to $423. Premium Content- Tesla’s Stock May Continue Higher On Bullish Change In Trends
AMD (AMD)
AMD rose above $43 this past week, and now it stands a chance to push higher to $46.80.
AT&T (T)
AT&T has been steadily trending higher, and if it can clear $39.25, then perhaps it pushes to $41.80.
Micron (MU)
Micron also had a good week, after its quarterly results and like the options traders were betting, the stock climbed. Now, $58.65 is the next level to watch for.
Have a good Saturday 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.
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.
Major Tech Earnings and Fed Meeting Set Up Critical Market Week
Mott Capital's Market Chronicles 20 hours ago