Stocks Plunge 3% Proving This Market Can’t Be Trusted

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.

Otherwise, enjoy the column!

Subscribe to the Monster Stock Market Commentary and join the 2,477 subscribers getting it for FREE every day!

Sign-up For My Premium Room

MARCH 27, 2020

STOCKS – SHOP, NVDA

MACRO – SPY, VIX 

Reading The Markets Premium Content – $35/month or $300/year

S&P 500 (SPY) 

This market is flat out dangerous and let today serve as notice how dangerous it is. The S&P 500 opened lower, trading down about 3% all day, to a low of 2,520, only to move up just over 2,600, and then with 30 minutes left in the day, it falls by over 3% in a straight line. Unreal. It can’t be trusted, it is dangerous, and it shall remain that way. No rally is safe.

S&P 500, spx

VIX 

The VIX remains above 60 and climbed again today to over 65, still a sign of how uncertain investors are about this market.

vix

Nvidia (NVDA) 

Nvidia has failed now three times at $262, and I think that means shares start moving lower towards $218.

nvidia, nvda

Shop (SHOP)

Shop filled a gap at $467, double topped, and now has a gap to fill down at $387.

shop

Anyway, its Friday and that’s all. 

-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.    

[mailpoet_subscribers_count]
2,477
[mailpoet_subscribers_count]
2,477
%d bloggers like this: