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January 6, 2020
STOCKS: TSLA, NFLX, AMZN, BB, CRM
MACRO: SPY
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN TSLA AND NFLX
Reading The Markets Premium Content:
- Subscriber Mailbag – Looking At Fundamentals
- First Live Webinar – Jan 16 9:30 PM EST
- Stocks May Merely Be Filling The Gap
- MORNING COMMENTARY 1.6.20
- Sector Rotation On Watch For The Week Of January 6
S&P 500 (SPY)
The sell-off lasted for about the first hour of trading. Then it got back to the flatline and surged into the close, rising by about 35 basis points. That’s what I call a pretty good day.
The fear indicators quickly faded as the day wore on, with the VIX closing below 14. That’s a nice intraday retracement. Meanwhile, the S&P 500 filled the gap from the open and just continued to push higher.
It seems like the next stop for the S&P 500 may be back at the highs around 3,250.
Meanwhile, the general trend of the RSI is still higher and has managed to come down to around 68. I’ll admit I’d like to see that level come down further. 
Netflix (NFLX)
Meanwhile, Netflix had a good day, rising back to resistance $336. This is the stock’s second attempt to break out at this level, and it is a significant level. If it crosses $336, then it likely goes on to rise and fill the gap up at $362. The RSI is trending higher, and that indicates to me that this time it breaks out.
Tesla (TSLA)
Tesla continues to run higher ahead of a Model 3 event in China tomorrow. It appears there is talk of the Model Y launch coming too. The stock is testing its previous highs around $454, and an increase above that price sends the stock higher, and I think $475 could be its next stop it’s way to $510.
Amazon (AMZN)
Amazon had a good day and is on the cusp of breaking out at $1,900. If it can cross that price, it can probably rise to around $1,967.
Salesforce (CRM)
Salesforce broke out today by rising above resistance at $167. It may result in the stock rising to around $182.
Blackberry (BB)
Its been a while since we last spoke about Blackberry. Now the stock is breaking a downtrend and rising above resistance at $6.67. Perhaps it even fills that gap up to $7.50. My only problem is that the RSI is already showing the stock is overbought.
Have a good 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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