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March 26, 2020
Stocks – AAPL, DIS, BA, GS
Macro – SPY, VIX
Michael Kramer and the clients of Mott Capital own AAPL
Well, stocks continued to rally today, in the panic trade the other way. It seems to me that nothing makes sense anymore. The economy is going into recession, if not potentially something worse, that seems clear to me. The KC Fed number today was horrible, the worse since 2009. Initial jobless claims rose to over 3 million, but yet the S&P 500 managed to rally by 6%.
S&P 500 (SPY)
Can we continue rally tomorrow, yes, perhaps even to 2,700? But I’m still not convinced it will last. That is the most likely region the market fails at this point because there are a downtrend and resistance region meet. We could be merely filling gaps in the short-term before another turn lower.
(VIX)
But the VIX, that didn’t move, and that is perplexing to me. Who knows, maybe it doesn’t matter, maybe it doesn’t mean anything.
So again, not much is making sense to me at this point.
Boeing (BA)
Boeing is still going higher, and the level to watch for comes around $197.
Disney (DIS)
Disney looks like it double bottomed for now, and could rise back to $116.
Apple (AAPL)
Apple is testing resistance around $260, with the next level higher coming around $270.
Goldman Sachs (GS)
Goldman has been climbing as well and is nearing resistance around $175.
-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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