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November 18
Stock Mentions: SPLK, AMD, NFLX, NVDA, MU
Macro mentions: SPY
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN NFLX AND SPLK
US Market
- S&P 500 Futures -3 points
- US 10-Year 1.85%
- Dollar Index 97.94
- VIX 12.38
- Oil $57.62
International Markets
- Nikkei +0.49%
- HSI +1.35%
- Shanghai +0.62%
- KOSPI -0.07%
- FTSE +0.41%
- DAX -0.05%
Get the morning update first here – Stocks Are Looking To Power Higher On 11.18
MACRO
The S&P 500 futures were higher but turned lower on some negative commentary around a US-China trade deal. Regardless, it would seem that the equity market is pulling away from that 22 month period of consolidation. The futures appear to be on track towards 3,180.
STOCKS
Splunk (SPLK)
Splunk is rising ahead of its results later this week. The stock received a bullish call from Morgan Stanley with an overweightย rating and a $169 price target.ย The stock has struggled around the $123 price level, and if it can successfully clear that level of resistance, then perhaps it can finally push back towards the $140 level.ย
AMD (AMD)ย
AMD is rising today too after Cowenย raised its price to $47 from $40. The next significant level of resistance for the stock does not come until $43.
Micron (MU)ย
Micron needs to get over and close above $48.75 today if it has any chance of getting to $51.41.
Netflix (NFLX)ย
Netflix is moving up some today. There was some weekend conversation taking place in theย member chatroom on SA RTM about how Disney isn’t likely to steal much from Netflix and how the two services differ. Disney alone likely doesn’t offer enough differentiated content to see it hurt Netflix. I think the stock continues to head towards $315.ย Premium content – Netflix May Be Heading For A Break Out
Nvidia (NVDA)ย
Nvidia is falling some in the pre-market, and I’m continuing to watch this one to see how trades at $198. A break below $198 sends it to $188.
Have a good one.ย
-Mike
Mott Capital Management, LLCย 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.ย
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