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February 3, 2020
Stocks- NFLX, BA, AMD, INTC, NVDA
Macro- SPY, ISM
Michael Kramer and the clients of Mott Capital own NFLX
S&P 500 (SPY)
Stocks moved higher on February 3, with the S&P 500 rising by around 70 basis points back to 3,246. But not is all good news because it would appear that a bearish downtrend has formed. I first noted this in the midday commentary. It will be essential to see what happens from here, do we fail at the trend line or break higher. My suspicion is that we know more tomorrow, one way or another. Premium content – Downtrend Detected In S&P 500
ISM Report
The ISM manufacturing report came in today, and it showed an improvement in the sector with a better than expected reading of 50.9%. More critical is that it corresponds to a GDP growth rate of 2.4%. Additionally, GDPNow is forecasting first quarter GDP growth of 2.9%.
Netflix (NFLX)
Netflix is higher today and is very close to $362 now. That is the big level of resistance we have been waiting for. It is simple, breakout, and we go to $385. Remember, we saw the bullish betting in this one last week, and the stock has performed very well during this whole market downturn. Premium content – Why Netflix Stock May Have Bottomed
AMD (AMD)
AMD looks solid and is bouncing back today, rising over $48. The stock has done a fantastic job holding the trend line and support around $46.80. Going back to $50.50 seems feasible at this point.
Nvidia (NVDA)
Nvidia is looking reasonably strong, too, and is breaking a downtrend at the moment. It could result in the stock rebounding to around $246.
Intel (INTC)
Intel options buyers are back? It seems possible. The stock filled the post-earnings gap and held support, and it looks like it is going to turn higher. Premium content – Intel Buyers Back?
Boeing (BA)
Boeing continues to trend lower, and all the signs suggest it falls back to $297 to $300.
Have a good one
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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