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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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…
Moving on…
STOCKS
Microsoft (MSFT)
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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.
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.
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.
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.
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
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.