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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FEBRUARY 18, 2020
STOCKS – NFLX, BABA, PINS, AAPL, SWKS
MACRO – SPY, ES
MICHAEL KRAMER OWN SPY CALLS
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN NFLX, AAPL, SWKS
S&P 500 (SPY)
Stocks fell today as expected, but the S&P 500 managed to fall less than 30 basis points to finish lower at 3,370. The SPX managed to drop to around 3,355, and it found a bounce eventually climbing back to 3,375, not entirely closing the gap, but pretty close.
It means that the trend for the market hasn’t changed, and I noted this morning in the audio update; I think it means we keep grindin’ higher! Premium content – Morning Commentary 2.18.20
The futures climbed to a high of 3,379 tonight at 7 PM, but then turned lower. So this appears to be the region to watch for now.
The biotechs are running higher, and they are nearing a pretty big break out at $98, potentially pushing the ETF higher towards $101.
I noted today in the midday update that Netflix was breaking out, and we needed to close above $385, and we did. The next level could be that all-time high. I hear no one mention how this stock is up over 50% just since the end of September. The market is telling you loud and clear what thinks about the coming competition. What competition!? Premium content- STOCKS HOLDING THEIR OWN
A member asked me to take a look at Pinterest. I have never looked at this one before, so I’ll give it my best shot. The stock failed at resistance around $27, and proceed to fill a post-earnings gap lower. Now the stock sits on an uptrend, and typically once a gap is filled, it follows the previous trend; in this case, the long-term trend has been lower. So I think it heads lower still towards $21.50.
Alibaba is one sturdy stock that holds the line, and I think it is getting ready to make that jump back to $230.
How bad could the Apple news be when Skyworks falls by just 2%. This has gaps to fill all over the place; i’m still looking for that one up at $128.
Apple was strong today, and it seemed like a typical day for the stock. It found support around $311 and never looked back. Why can’t it fill the gap up at $325? It seems reasonable. I talked more about in this article for Forbes tonight – Apple’s Stock May Not Stay Down For Long Despite Its Sales Warnings
Be back to ya in less than 12 hours!
Working 24/7/365 and watching the markets when they aren’t even open. Not even my web hosting providing can keep from getting these blog posts to ya! Although they came pretty close today!
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.