Stocks Nudge Higher, Inching Closer and Closer To That Big Break Out
Stocks inched higher today, and the more work I do, the more convinced I become that break out is coming. Plus Tesla, Microsoft and PayPal

Stocks Nudge Higher, Inching Closer and Closer To That Big Break Out

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October 23

Stock Mentions: MSFT, TSLA, BYND, PYPL, LRCX

Michael Kramer and the client of Mott Capital own MA, MSFT, V, TSLA

MACRO

The S&P 500 managed to finish the day slightly higher at 3004, and up about 30 basis points. The market continues to hang in there, waiting, what it is waiting for, I don’t know. But it is just in a holding pattern. Perhaps it is waiting for the completion of the earnings season, or maybe it is waiting for the Fed next week. Maybe tomorrow’s PMI flash report will help. But again, the index needs to get over 3028.

I continue to believe this market wants to explode higher. The more digging I do, the more I convince myself that big break out is coming and very soon.

I talked about it today in a premium video. More Signs Suggesting Equity Markets Are Near A Break Out – I encourage you to try it out, the first two weeks are free, then $35/month or $300/year.  If you hate the service just cancel it. I’m not gonna whine and cry if you hate it, nor will I send you a dumb email to say I’m sorry to see you go, with a crying emoji :'(. If you love my free blog, I don’t see why you wouldn’t like the service. But what do I know…

S&P 500, spx

Moving on…

STOCKS 

Microsoft (MSFT)

Microsoft is trading flat after posting strong first quarter results. I’m not sure why the stock is not moving higher, but we need to wait until investors get a chance to digest the results. $142 continues to be a wall of resistance.

microsoft, msft

Tesla (TSLA)

Tesla is soaring after posting a profit in the third quarter and easily topping estimates for a loss. The stock is up $51 to $307. Let’s take a moment to enjoy the strong results big move higher.  I’m glad got back to $300 like I have been looking for.

tesla, tsla

PayPal (PYPL)

PayPal is bouncing back after reporting strong results. The stock fell to $94.65 today and is now trading up to $105, erasing yesterday’s declines. Hopefully the same happens for Visa and Mastercard tomorrow. When investors realize that Visa trades at 23.9 times fiscal 2021 earnings estimates.

pypl, paypal

Lam Research (LRCX)

First, it was Teradyne, and now Lam Research reported better than expected results, and the stock is jumping to a new high. It seems Texas Instruments gloom and doom may be a Texas Instruments problem. We will find out tomorrow when Intel reports.

lam, lrcx

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Beyond Meat (BYND)

Beyond Meat fell below $100 today, and now we can wonder if the stock falls to $78. I talked about Beyond in my mid-day commentary. Stocks Are Trending Higher Waiting On More Earnings

beyond meat, bynd

Have a good one!

-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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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.