This column is my opinion and expresses my views. Those views can change at a moments notice when the market changes. I am not right all the time and I do not expect to be. I disclose all my positions clearly listed on the page, and I do not trade my account on the stocks spoken of in this column unless fully disclosed. If that does not work for you stop reading and close the page. Do not bother me or harass me.
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December 20, 2019
Stocks – TSLA, ACAD, NVDA, BIIB, NKE
Macro – SPY
- S&P 500 Futures +2 points
- US 10-Year 1.94%
- Dollar Index 97.59
- Oil $60.98
- VIX 12.27
- 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 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 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
Surprisingly Nike is falling today after reporting what I thought were good numbers. Downside appears limited to around $97.
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.
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.
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.