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December 12, 2019
Stocks: TSM, GE, SBUX, ROKU, CSCO
Macro: SPY
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN CSCO
US Markets
- S&P 500 +4 points
- US 10-Year 1.8%
- Dollar Index 97.15
- Oil $59.12
- VIX 15.08
International Markets
- Japan +0.14%
- HK +1.31%
- China -0.30%
- Korea +1.51%
- UK +0.32%
- Germany +0.02%
Headlines
It will be another busy day of events with the UK general elections and an ECB rate announcement. Plus, we will get another round of economic data in the US, including the producer price index. There are also reports that President Trump is having a high-level meeting on Trade today as well among his advisors.
S&P 500 (SPY)
S&P 500 future reached a high of around 3,150, but have since given back some this morning. This 3,150 region has been acting as resistance since the end of November. It is proving to be a difficult spot for the S&P 500 to push through. There does appear to be a clear uptrend that has formed since December 10, and I think that means the S&P 500 pushes through the 3,150 and continues on to 3,200.
Taiwan Semi (TSM)
Taiwan Semi is breaking out of its trading range and rising sharply today after reporting a 9.7% y/y increase in November revenue. It is likely a positive read through to the entire semiconductor group.
Starbucks (SBUX)
Starbucks is trading higher today after JPMorgan upgraded the stock to Overweight from Neutral and a $94 price target. The chart has turned higher and could continue to rise until hitting resistance around $91.40.
GE (GE)
GE is rising today after getting upgraded by UBS to Buy from Neutral. I noted yesterday that GE was in a place where it needed to bounce, and that is what has happened. The stock could probably push higher towards $11.50.
Cisco (CSCO)
Cisco is also rising today, and I noted yesterday in an article I was seeing bullish options bets being placed, and the chart indicated the stock could rise to around $45.70.
Roku (ROKU)
Roku has been struggling at resistance at $150; we’ll see today if it can generate some momentum back or not.
Have a good one!
-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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