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APRIL 27, 2020
STOCKS – AAPL, AMZN, BA, ACAD
MACRO – SPY, EWG, QQQ, OIL
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN AAPL AND ACAD
Mike’s Reading The Market Premium Content
- The Week Ahead For April 27 – Volatility To Rise?
- Massive Shift On The Horizon
- Earnings Are Deteriorating, Market Is Not Cheap
The good news is that stocks are pointing to a higher opening on April 27. The bad news is that stocks have gone nowhere since April 9. So there the bulls nor the bears at this point have much of anything to celebrate. This isn’t something that has taken place just here in the US, but in markets across the world. How you want to interpret all of this is up to you, but I see it as a sign of fading bullish momentum, and a market that is waiting for earnings to wrap-up.
Germany DAX
The DAX index has seen a solid floor around the 10,250 level, with resistance around the 10,750 level since April 7.
NASDAQ (QQQ)
Meanwhile, the Nasdaq continues to rise in this perfect trading channel. It is essential to continue to monitor closely.
S&P 500 (SPY)
Meanwhile, the S&P continues to move in the same sideways trading zone, as I have continued to note. Nothing has changed here.
Oil
Equity markets are ignoring the move lower in Oil today.
Amazon (AMZN)
Amazon is very close to breaking out this morning if it can rise above $2,450. Maybe it breaks ahead out of the earnings? Sure it is possible, but it could be a sell the news too. Credit Suisse raised its price target on the stock to $2,800 from $2,400. I continue to think this is a sell the news stock, so just be careful, that is all I can say.
Apple (AAPL)
According to a report from the WSJ, Apple will be delaying the launch of its newest iPhone. The stock has struggled in this region around $280 to $290.
Acadia (ACAD)
Acadia has been moving higher in recent weeks and nearing resistance around $52. So we will have to watch this one closely. One of its peers Axsome is rising by 50% this morning on positive Alzheimer agitation data; this is not an area that Acadia is going after, so hopefully, the market understands that.
Boeing continues to a diaster from so many angles. Just watch support at $126, that is what matters most at this point.
That’s all for this morning
-Mike
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.
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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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