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October 28
Stock mentions: GOOGL, ROKU, BYND, AAPL, SNAP
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN GOOGL
The S&P 500 rose by 55 basis points today, pushing the S&P 500 to close at a new all-time high of 3,039. We can see on the chart that the index rose to around 3,040, and just stopped rising. The natural course of action by the S&P 500 should be a retest of today’s breakout. So we can watch for that, and I’d like to see that retest happen sooner than later.
Alphabet (GOOGL)
Alphabet reported results, and the earnings seem confusing. It looks like a big miss on the bottom line, but if you dig through the report, you can see that those traders at the Google Hedge Fund unit, of course, I’m joking, didn’t have a good third quarter. The loss is due to a $1.5 billion loss on investments, which resulted in a decline in other expenses of $549 million. If you adjust for those investment losses, according to my math, you will get an earnings beat. Perhaps, during the conference call, the company can explain that a bit, and then tomorrow, once the algo’s clear out, the stock can trade higher. The results look fine.
Hey anybody, know any good traders out there? 😛
As I noted in today’s midday update, if the stock can clear $1,300, then it could be on the verge of a big break out. Happy Days Are Here Again As Stock Surge To Record Highs
SNAP (SNAP)
SNAP may be breaking out of the falling wedge, and that means that the stock could rise towards $15.50
Roku (ROKU)
Roku is back to resistance around $150. As I noted today in the midday the commentary I don’t think this rally will last.
Apple (AAPL)
Apple seems overbought now, look at that RSI. I don’t see how this can continue to rise at this pace. The stock needs to cool-off. Unfortunately, it may not happen until after results. I talked about this more in a premium commentary, including where I think the stock may fall too. Apple May Slide Following Results
Beyond Meat (BYND)
Beyond Meat is falling after results to around $98. The results look strong from several metrics. It just too bad that the company has a market cap of $5.95 billion on full-year revenue guidance of $270 million at the mid-point. I wish all of my stocks traded with that kind of multiple. That is crazy, I’m sorry. Play this at your own risk. I don’t see how this doesn’t keep trading lower.
Ok until tomorrow
-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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