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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Stocks Near Big Breakout, Tesla Shorts Can’t Win, Booking May Fall 12%
MICHAEL Kramer AND THE CLIENTS OF MOTT CAPITAL OWN SHARES OF NFLX AND TSLA
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S&P 500
Netflix
Netflix had a nice bounce back today, rising to $327. But noticed where the stock failed on the chart today, right at resistance around $332. That price will be crucial tomorrow to know if today’s rally was a one day bounce or a sign of a turn higher in the stock. A rise above $332 likely sends the stock back on towards $357.
Amazon
Amazon fell again today, and is stepping it way lower, and continues to look as though $1840 is still in play.
Tesla
Months ago I highlighted why the shorts can’t win in Tesla, from January and bunch of other thoughts. An Intelligent Way Of Looking At Tesla’s Results
Booking/Expedia/TripAdvisor
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EXPE PE Ratio (Forward 1y) data by YCharts
The chart on Booking doesn’t look particularly strong. I could make a solid case for shares to decline to roughly $1.630 from $1,860, a drop of about 12 percent.
10-Year
The moment of truth is coming for the 10-year treasury butting up against support at an uptrend. Should yields break 2.80, they may have much further to fall to 2.6 percent.
That is going to be it today, good luck tomorrow.
-Mike
Member Services
Michael Kramer is the Founder of Mott Capital and the creator of Reading the Markets.
I started learning to invest when I was 16 years old. At 40, I have pieced together a long career on Wall Street, working as an analyst, and a domestic and international equity trader at two multi-billion dollar equity firms.
I started Mott Capital in 2014 to follow a passion and dream of being in control of my career path.
The idea behind Reading the Markets was to help both individual and institutional investors benefit from my experience in the business and my unique approach to dissecting stocks and the markets, which helped me become a great trader.
Reading the Markets is unique, in that the video does not only serve as a means to deliver the content but to interact, making it a personal learning experience, while also showing the user how I go about finding my research and how you can use the process to do your work.
I want this product not only to be profitable and enjoyable but also affordable.
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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.
#sp500 #netflix #booking #expedia #tripadvisor #amazon#tesla