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The Stock Market Is Moving Back To A Risk-On Mentality



The Stock Market Is Moving Back To A Risk-On Mentality

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The risk-on asset classes had good days, with Biotechs (XBI) up 1.4 percent, Chips (SOXX) up 1.3 percent, and materials (XLB) up about 1.2 percent. Risk-on is what one wants to see start to happen more because it tells us that investors are looking to move into more aggressive parts of the market, and that bodes well for a rise higher.

S&P 500

The S&P pieced together a decent day, rising about 40 bps, recovering about 2/3 of yesterday’s decline. It seems the past three days have been a game of back and forth filling the gaps from the previous day. The good news is that today, there was no gap up or down, and that should hopefully mean tomorrow we continue higher.

S&P 500


Sectors

The XBI continues higher and appears to be heading back to the previous highs.

xbi

The setup in Chips also continues to be very strong.

ch

What is ironic is just how much alike the two charts look. I guess the chips and biotechs are part of the same risk-on algo running.

Materials are also breaking out, and that, of course, is a positive as well.

materials


Russell

Not only that, but the Russell 2000 is breaking out as we talked about the other day.

russell 2000


Stocks

Nektar broke out today, after bouncing off our support level around $70.

nektar

Intercept looks close to breakout too.

icpt

Micron broke out and appears to be heading back to $61 now.

micron

Lam Research also appears to be breaking out and could be heading back to around $224.

lrcx

Texas Instruments back to $120.

txn

The suspense in Amazon is just killing me! BREAKOUT ALREADY!

amazon

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Dollar

It looks like the dollar finally broke out, and it seems clear which way it is going.

dollar

Night!

Mike

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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.

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Tags: #sp500 #biotech #materials #chips #nektar #amazon #micron #lam #texas 

 

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Stocks and Sectors Breaking Out For The Week of May 14

Stocks and Sectors Breaking Out For The Week of May 14



Stocks and Sectors Breaking Out For The Week of May 14

Michael kramer and the clients of mott capital own shares of acad, dis, and googl
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The week of May 14 will try to continue to build on last week’s strong performance. With earnings pretty much behind us now, investors can continue to digest the strong earnings seasons. Meanwhile, the latest inflation and wage data should also calm nerves over runaway inflation or a Fed that will need to be over aggressively, and allow for stocks to continue to rally this week.

sp500

The S&P 500 broke out last week, and the relative strength index also broke out, and I think we should continue to see the broader market continue to trend higher this week. I’m still looking for a rise to about 2,800 on the S&P 500 over the next couple of weeks.

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Consumer Stocks

We have seen Technology names breakout over the past week, and I think we see the consumer stocks finally breakout this week.

The XLY ETF is very close to breaking out, and the RSI also appears set to breakout, I think that happens this week.

consumers


Amazon

As I have written previously, Amazon is close to breaking out, and I think that breakout can happen this week, as it sits right below resistance.

amazon


Home Depot

Home Depot is another one that already has broken out, and is reporting results on May 15. Analysts are looking for earnings for $2.05, on revenue of $25.2 billion.  A return to $210 may be reach for later this week.

home depot


Disney

Disney is also likely heading higher, potentially back to $111.

disney

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Nvidia

Technology stocks have already broken out, and we are going to want to see a strong continuation this week. Nvidia is going to be the one to watch here. It has broken out, and the earnings results served as a retest of the breakout, and it held. Now we to see a follow-through higher.

nvidia


Micron

Micron also broke out, and I think a rise to about $54 is in the works.

micron


Alphabet

Alphabet is has been on a tear, I think that one continues, on towards $1150.

alphabet


AMD

AMD has also broken out and a rise to $13.70 could be coming shortly.  amd

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Biotech

Another group I will be watching are the biotechs, to see if they can build on Friday’s strength.  The XBI appears to have broken out, and the RSI did as well.  We could see a rise back to the highs around $96.

biotech


Nektar

Nektar shares bounced right off support around $70, the key this week is if the stock can get back over $83.

nktr


Acadia

Acadia may also be close to breaking out and a push back to $27 would sure be nice.

acadia stock

 

Mike

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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.

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Tags: #amazon #consumer #technology #biotech #homedepot #acadia #nektar #disney #nvidia #amd #micron

biotech technology nasdaq 100 stocks

Biotech, Technology, And NASDAQ 100 All Breakout – S&P 500 Back To 2,880?


Biotech, Technology, And NASDAQ 100 All Breakout – S&P 500 Back To 2,880?

Stocks were in rally mode again after a better than expected job report boosted the S&P 500 by about 1.5 percent. Any hesitation I have had over the past couple of day seems to indicate that the market, technology, and biotech stocks have now broken out, and that means they may have more upside potential from here.

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S&P 500 A Rise Back To 2,880

The S&P 500 is approaching the upper bound of the 2016 lows/Brexit trend line. When the index crossed over the trend back in late December, it resulted in the index surging all the way to 2,880. I think the same thing might happen again this time, as the fundamentals of the economy, the job market, and earnings continue to look very strong.

S&P 500


Biotech Stocks

The NASDAQ biotech ETF cleared two extremely critical levels over the past two days,  resistance at $111.50, and then again today $113.70. That could be a sign the ETF is set to rise all the way back to $119.25.

biotech

We see a similar confirmation in the iShares Biotech ETF (XBI) as well, with the potential for to rise to roughly $98.

One can see well the winners outweigh the losers, with only 2 of the top 25 stocks down.

biotech


Technology Stocks

Technology names broke out as well with the shares Technology ETF (XLK) soaring as well, quickly clearing the resistance level at $69.25.

technology

In fact, like the biotech stocks, the distribution of the technology sector is heavily favored to the winners, with only three stocks lower on the day.  technology

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Microsoft

Microsoft has cleared resistance at $95.70 and has made a new all-time high.

microsoft

Netflix

Netflix shares have broken out from its two day period of consolidation.

netflix

Nvidia

Nvidia shares have also broken above its downward trend as well. My guess is thing can run towards $260.

nvidia

Alphabet

Alphabet shares appear to be playing fill the gap and could make a run towards $1200

alphabet

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Nasdaq 100

Finally, the Nasdaq 100, has broken out.

nasdaq 100

That is it for a Friday.

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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.

© 2018 Mott Capital Management, LLC.  Use, publication or reproduction in any media prohibited without the permission of the copyright holder.

Tags: #sp500 #incyte #nektar #bitoech #technology #stocks #alkermes #costco #instacart #anlylam #nektar #incyte #nvidia 

 

 

 

biotech technology stocks

Biotech and Technology Stocks To Watch Amid A Sector Breakout And More


Biotech and Technology Stocks To Watch Amid A Sector Breakout And More

The stock market has felt like it has gone nowhere, and seems to have lost its sense of direction. It feels as though a tweet can send the market reeling lower, or soaring higher. But with all the ups and down, the S&P 500 stands today at the same place it stood on February 16, around 2,735 give or take a few points on either side. It has certainly felt more exhausting.

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Biotech Stocks

The biotech’s today performed better than I had anticipated, with the NASDAQ Biotech ETF ($IBB) closing at $112.62. The chart shows a hint of testing support at $111.50 on two occasions during the day, and it held. A positive for sure, and it makes today’s price action look more like a breakout now.

When looking at the breakdown of the ETF, the buying was well-distributed among the group. Nektar led the group higher; it figures Nektar would, I wrote an article the other day, saying it was due for a pullback.

biotech


Nektar

Nektar has all the signs of a stock looking like it was set to pullback, an RSI trending lower, while the stock is reaching new highs and waning volume. But to this point, the market has decided to prove me wrong.

nektar


Alnylam

Alnylam, despite rising today, still looks weak on the charts. The stock is trending lower, along with the RSI trending lower.

anlyam

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Incyte

Incyte looks like one that is on the verge of breaking out and should it rise above $93; it would signal a breakout, giving the stock the potential to increase to $102.

incyte


Alkermes

I have owned Alkermes for years, and suddenly the stock is starting to show signs of life, with a bit more volatility. I’m not sure how much of Alkermes’ rise has to do with the connection the market has given it to Nektar, because of their immuno-oncology drug candidates,  or if it has to do with the government focus on the opioid crisis. Alkermes makes Vivitrol, an injectable 30-day drug for opiate addiction. Vivitrol has a tiny market share that has been steadily growing. But Alkermes also has a lot on its plate in 2018 from its pipeline, with its depression candidate ‘5461 and a pending FDA approval. Head to head trial result on what was ALKS ‘8700 vs. Tecfidera in MS. ALKS ‘8700 was recently renamed after Alkermes signed a licensing deal with Biogen. Plus data on ALKS ‘3831 a drug for schizophrenia. With all these catalysts its is hard to decide what is driving price now, but my gut says the connection is with Nektar still.

alkmeres

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Technology

The Technology ETF ($XLK) closed at $69.25, and it is nearing a breakout as well, which would be nice, even though I recently wrote a piece warning of a potential double top formation. It is nice being wrong twice for sure, but hey I’m not perfect either.

technology

Activision

Activision continues to climb, and there has been very little that has seemed to slow the stock down since the start of the new year. In this case, it looks as though the trend is your friend.

activision


Nvidia

A name we haven’t mentioned in a while Nvidia has stalled since its quarterly results, which is surprising. But the chart has this negative look to it with that downtrend that has formed in recent weeks. It may be worth watching Nvidia, and seeing how it continues to trend before making a call on it.

nvidia

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Costco

Did you notice Costco’s results? The part I’m most interested in is the e-commerce growth. I have personally never liked shopping in Costco, especially where I live in Long Island, it is crazy in the store, and the parking lots is a disaster, with people fighting over spots. But I have started using their e-commerce product a bit. Now with Costco groceries through Instacart, I have become a big fan of Costco, because I can all the good deals without having to step foot in the store.

In the quarter Costco reported e-commerce sales of about $1.5 billion, which isn’t much, I know, but it was still 4.8 percent of total revenue, which came to $32.998 billion. The Instacart part of the business is new, so I would love to see what the growth is next quarter in this part of the company.

By the way, this was the Costco where I live at checkout on a Sunday morning at 11 am, back in December.

costco

Instacart

By the way, Instacart isn’t a public company, but if you go to the website Instacart.com, you can see what stores are associated with Instacart in your neighborhood, I like the service a lot. A personal shopper goes to the store to pick up your items that your order online, and through the app, you can chat with them, and they will send you pictures of the items, or let you know if the store is out of an item, and the replacement options. Very cool.

Ok, that is all, until tomorrow.

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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.

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Tags: #sp500 #incyte #nektar #bitoech #technology #stocks #alkermes #costco #instacart #anlylam #nektar #incyte #nvidia 

biotech baker stocks

Biotech Stocks Continue To Rip Higher, Plus A Look At The Baker Bros. Holdings

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Biotech Stocks Continue To Rip Higher As Breakout Nears

What a big difference a few days can make, right? It was just Tuesday when everyone was trying to figure why Biotech stocks were tanking.  Today you have the NASDAQ Biotech ETF IBB ($IBB) nearing a breakout, which could send the shares surging higher to about to $122, a rise of 9 percent. What gives?

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What gives is that Monday’s episode, as I wrote, was a pullback nothing more, nothing less. It was just enough to remind everybody that the group can get wild at times. The ETF continues to grind higher, and I think it is approaching a breakout. Should the ETF rise above $114 it should get us there.

biotech stocks

The table below I find super interesting because it is the past one-year performance for the ETF holdings. The returns of Nektar ($NKTR) and Sage ($SAGE) are pretty impressive. But I want to pay attention to the bottom five stocks. Do you notice anything they all have in common?

biotech stocks

Baker Stocks

Well, Incyte ($INCY), Seattle Genetics ($SGEN), and Alexion ($ALXN) are all Baker Brother, a large biotech Hedge Fund, holdings. But they are not any holdings within the portfolio, they are numbers 1,2, and 3 holdings, 4 is not on the list, but it is Acadia Pharmaceuticals ($ACAD), and 5 BioMarin ($BMRN). Look at the performance over the past year. They have been crushed by the IBB ETF, which is up 21 percent. Amazing.

IBB Chart

IBB data by YCharts

Does it mean anything? Probably not? Maybe just bad luck I guess? I to this point haven’t been able to find a correlation that would suggest otherwise.

Seattle Genetics

Seattle Genetics appears to be trying to form an uptrend, while holdings support around $51.50. The stock has developed what seems to a bullish symmetrical triangle.

seattle geneticsAcadia

Acadia shares have been range-bound for what feels like years; one can see a triangle has formed, which could be viewed as a bullish signal.

acadia

Incyte

Incyte shares are desperately trying to form a bottom at $93. A break below $93 pushes it lower towards $80.

incyte

Alexion

Alexion, like Acadia and Seattle Genetics, is also in the middle of a bullish symmetrical triangle as well.

alexion

BioMarin

Meanwhile, shares of BioMarin have gone nowhere, and look like they may continue to be range bound.

biomarin

Until Tomorrow!

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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.

© 2017 Mott Capital Management, LLC.  Use, publication or reproduction in any media prohibited without the permission of the copyright holder.

Tags: #biotech #alexion #acadia #seattle #genetics #nektar #sage #incyte

Biotech Stocks

Biotech Stocks Monster Bounce Back, Plus Micron, Lam, Rates, and Oil

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Biotech Stocks Monster Bounce Back, Plus Micron, Lam, Rates, and Oil

If you aren’t investing in Biotech, then you aren’t living. Yesterday, biotech stocks were getting smashed, and today was like yesterday never happened. Today the S&P SPDR Biotech ETF (XBI) climbed by over 2.5 percent, and the NASDAQ Biotech ETF rose by nearly 2 percent. Believe it or not, the two ETF’s are trading at levels higher than where they started the day yesterday. Go figure. You can’t make this stuff up.

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XBI Price Chart

XBI Price data by YCharts

It is worth noting that many of the stocks we mentioned yesterdays such as Neurocrine ($NBIX), Exact Sciences ($EXAS), Clovis ($CLVS), Amicus ($FOLD), and Exelixis ($EXEL) did not recover their losses. Because those stocks fell on fundamental reason, and while the charts for each still look intact, they do have further downside risk.

XBI Price Chart

XBI Price data by YCharts

 

Nektar

But there were plenty of big winners, today with Nektar ($NKTR) for one surging by nearly 19 percent. Have you seen the chart of this thing? Wow! It is up 191 percent since November 1, a company with valued at almost $11 billion market cap. I’m sorry, I wish I knew more about this business, but I don’t. Maybe someone could shed some light on it?

Biotech

(Data compiled using Ycharts)

Bioverativ

Bioverativ ($BIVV) jumped by nearly 7 percent. Cowen raised its price to $100 from $80, noting the company’s 2017 preliminary results, and 2018 guidance. Technically the stock looks like it has officially broken out, but be careful here, the market loves to play the game of fill the gap, and that means the stock could give back the gains to $56.50, before resuming its upward trend.

Bivv

Alkermes

Alkermes shares jumped by over 5 percent today after the CEO was on a show called Mad Money with some other guy named Cramer (humor, it is ok to smile or chuckle). The stock looks like it trying to break out here, and it has plenty of things in the pipeline in 2018 to come.

alkermes


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Micron

Micron shares just don’t look appealing here, after that monster beat and excellent guidance. The stock has struggled mightily to break out, and again it failed at $47. I have said this before, and I will repeat it, $40 is critical to this one. Break $40 and lower the stock shall go. 

micron

Lam Research

Lam Research ($LRX) has performed well, and has solidified around support at $185-86, and is starting to make a nice move higher. The stock for now looks like it has broken a downtrend, with rising volume and rising relative strength, an increase towards $220 seems likely. 

lam

 


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Oil

In my ten predictions for 2018 coverage, I said Oil was heading to $75, and today it got one step closer. The commodity broke out rising comfortably above $62. There is no resistance between here and $75. 

oil

10-Year

I also predicted 10-year rates would climb to 3 percent, well that just had a massive breakout also today. 

ten yearThat is, until tomorrow.


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