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

October 23

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

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


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…


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

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!


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