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October 29
Stock mentions: FB, AAPL, TSLA, AMD, GOOGL
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN TSLA, GOOGL, AAPL
Stocks finished lower by ten bps. Technology was a hit a bit hard with the Nasdaq down by 60 basis points. There is not much that changed based on today’s price action.
The Fed
The big event happens tomorrow with the FOMC set to decide on rates at 2 PM. The CME Group is projecting a 97.3% chance of a rate cut tomorrow. There should be no surprises tomorrow. The question is, how does Powell position future rate cuts? At this point, the market is not expecting a rate cut in December. So anything that suggests more rate cuts will be viewed as a positive. I think the Fed will use the opportunity the market is giving it and pause here for a bit.
Facebook (FB)
Facebook continues to test resistance at $191, and I still think there is a good chance this stock trades lower towards $181 in the days ahead.
Tesla (TSLA)
Tesla fell some today, and don’t be surprised if it continues to fall back to $300. It is fine and healthy.
Apple (AAPL)
I’d be thrilled if Apple could fall back to $237 before the company reports tomorrow night, and then pops after results. That would be the best-case scenario.
AMD (AMD)
I am completely shocked that AMD can trade higher in the after-hours following an inline quarter on the top and bottom, and a slight miss on guidance. The way this stock traded higher into the quarter, it should have had a big beat or something more than inline. Shocking. Enjoy it, it won’t last. Support comes around $31.40
See premium content from today – AMD BEARISH BETTING HEADING TO RESULTS TONIGHT
Yet, Alphabet trades down all day, on basically a non-operational line item. I give up!
See you tomorrow.
Oh wait, now AMD is falling –that’s more like it!
-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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