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July 16, 2020
STOCKS – JD, BIDU, SQ, QCOM
MACRO – QQQ, FXI
I wrote this on my iPhone sorry for typos etc…
Mike Reading The Markets Premium Content – $35/Month or $300/Year
- Warnings Signs Grow
- Amazon Traders Betting Shares Plunge Following Results
- Bearish Bets In Nvidia Continue
- Sell-Off May Be Closer To The Begin Than The End
- SPY VS QQQ – NEED TO KNOW
- Nasdaq 100 Facing More Losses – Morning
- Stocks Turn Eurphoic- Midday
- Bearish Betting Persist For NVIDIA
- Gap Higher, Then Fill? – Morning Commentary
- NASDAQ IS RIPE FOR A SIZEABLE DROP – WEEK AHEAD
- JPM May Jump As Much As 10% Followings Its Quarterly Results
The NASDAQ (QQQ)
Stocks are moving lower today after Shanghai fell about 4% overnight. That is weighing ADR’s of Chinese internet stocks, and having an adverse reaction on the NASDAQ Composite. The QQQs are trading lower today by about 1.4%. We are still well above the lows of Tuesday morning, but we may be heading back to the level. Again, I have been in the camp that the NASDAQ will continue lower, heading towards the bottom of the trading channel.
China
The Shanghai composite fell sharply and probably isn’t falling yet, with the potential to fill a gap around 3,144. The decline came despite the country reported better than expected second-quarter GDP growth.
JD (JD)
JD.com is one of the stocks falling this morning, but more important is that the stock is breaking its uptrend. It could result in the stock falling back to $49.
Baidu (BIDU)
Meanwhile, Baidu is falling this morning with a chance to decline to around $111 in the coming weeks.
Qualcomm (QCOM)
Qualcomm has struggled around this $92.50 price level, and I think it is heading lower towards $88.40.
Square (SQ)
Square is resting on an uptrend, and break of that trend sends the stock lower to around $100. Here is a free story – Square’s Stock May Be Ready To Pop
-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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