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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Stock mentions: NFLX, MSFT, NVDA, SHOP, BA, PYPL
Macro mentions: SPY, 10-Year
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN NFLX AND MSFT
Reading the Markets Premium Content from November 14
- Morning Rundown
- We May Have Entered A New Phase In The Market’s Lifecycle
- Investing For The Long-Term Requires A Plan And Patience
S&P 500 (SPY)
It was another dull day, and if things don’t pick up soon, I’m going to have nothing to write about. The S&P 500 finished the day higher by roughly ten basis points at 3,096. It seems fairly clear to me at this point that the market is consolidating sideways, as opposed to falling. It is just a matter of time before the index lifts higher.
The next leg likely doesn’t happen until next week, based on the chart.
By the way, now I have a new feature to roll for members of Reading The Markets, a morning rundown. It a 5-minute top-down view of the market and macroeconomics. Premium content: Morning Rundown
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10-year yields have been falling in recent days, but the general trend has been higher since the middle of October, and I think that trend will likely continue. That will probably be a negative for the defensive sectors over time, such as utilities and staples. I have talked about the rotation that appears to be taking place currently in the mid-day up for a member of the Reading The Market premium content – We May Have Entered A New Phase In The Market’s Lifecycle
Netflix rebound today after yesterday’s decline following the Disney news. The stock continues to act well around the $285 price level, and I still think that stock can work its way higher to around $315 over the rest of 2019. Premium content- Netflix May Be Heading For A Break Out
Shopify continues to attempt its break out at $315, and to this point, the stock has been unable to break out. If it can’t break out here, there is a good chance it goes back to $285.
PayPal seems to be acting well and appears to be on a path to around $106.25. Premium content from November 8 – PayPal Stock May See A Rebound
Microsoft continues to trend higher as well, and the next significant level to watch for is around $153.
Boeing is at a challenging level of resistance at $368. If the stock can rise above that price, then perhaps it runs up to $390. I think it has a reasonable shot.
Nvidia reported better than expected results, but weaker revenue guidance. The stock is up about 1% after-hours, nothing major. $217 is resistance for the stock, but the problem I see here is that the stock appears to still be in this rising wedge unless I drew it out wrong. I guess we can see what happens tomorrow.
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.