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December 20, 2019
Stocks – TSLA, ACAD, NVDA, BIIB, NKE
Macro – SPY
US:
- S&P 500 Futures +2 points
- US 10-Year 1.94%
- Dollar Index 97.59
- Oil $60.98
- VIX 12.27
INTERNATIONAL:
- Japan -0.20%
- HK +0.25%
- Shanghai -0.40%
- KOSPI +0.35%
- UK +0.21%
- Germany +0.59 %
MICHAEL KRAMER ND THE CLIENTS OF MOTT CAPITAL OWN TSLA, ACAD
S&P 500 (SPY)
S&P 500 futures are pointing to a slightly higher open on December 20. Today also happens to be quadruple witching, which means we can see exciting things happen as investors position around specific strike prices.
It’s hard to fight the tape, and for now, the trend is still higher, perhaps towards 3,212. Both patterns, the channel, and the rising wedge I spoke of last night are still suggesting there is more room for equities to rise through today. We should have a much better sense by the end of the day what happens next.
Biogen (BIIB)
Biogen is rising this morning after it announced a $5 billion share repurchase program. The stock has been stuck below resistance at $308. It will be interesting to see if this stock can ever clear that resistance level.
Tesla (TSLA)
Tesla is rising again today to around $410. I noted in a premium article earlier this week that I thought the stock could rise to about $425. Tesla’s Stock May Continue Higher On Bullish Change In Trends
Nike (NKE)
Surprisingly Nike is falling today after reporting what I thought were good numbers. Downside appears limited to around $97.
Nvidia (NVDA)
Nvidia is rising after Wells Fargo named the stock its top semi name for 2020 with a $270 price target. $245 would be the next level of resistance for the stock.
Acadia (ACAD)
I noted yesterday in a free article that I thought Acadia’s recent declines had more to do with sourcing liquidity, than something direr taking place. The stock didn’t have a great close yesterday, so as long as the $42 to $43 region holds, it should be fine.
-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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