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July 20, 2020
Stocks – ACAD, AMZN, NVDA, GE
Macro – QQQ
Mike Reading The Markets Premium Content – $35/Month or $300/Year
- Stocks Just Keep Going – Midday
- Bullish Betting Returns To GE
- Waiting On Key Vaccine Data – Morning
- AMD May Be Ready For A 10% Drop
- Amazon Traders Betting Shares Plunge Following Results
- Bearish Bets In Nvidia Continue
- SPY VS QQQ – NEED TO KNOW
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN ACAD
Stocks rose today, in what was one the strangest rallies I have seen in some time. The market had a sense of panic to it, just as much in the way stocks fall. It could be there was some short-covering to today’s rally because it was only the technology names that rallied.
It seems that the Qs will want to continue to climb, and I would think, at the very least, they will want to retest the highs from last week around $270. Perhaps, some of this is merely reshuffling from the options expirations as dealers needed to reposition themselves.
After a while, this game becomes incredibly confusing and frustrating, because mostly I try to form my opinion on what I see in both options and technical trends, for this daily trading stuff. My longer fundamental views are in a sperate basket. Last week all of the trends and options betting were pointing lower. Then days like today come along, and it is incredibly frustrating.
Nvidia (NVDA)
Nvidia was up today, but the stock is in the same position it was in last week, and so, therefore, nothing changes in my book. I still think the stock is heading lower.
GE
GE didn’t have a great day, but again there was bullish betting in this one with size. It would suggest that prices eventually go higher, but it may take until after earnings for them to happen. (premium content – Bullish Betting Returns To GE)
Amazon (AMZN)
Amazon was up nearly 8% today. So that you realize that is over $100 billion in Market Cap. That is bigger than many companies in the S&P 500. That is a tremendous move. The stock stalled at resistance at 3,200. I don’t think this mania lasts, and we reverse lower. I still 2,800.
Acadia (ACAD)
I am very saddened that pimavanserin didn’t prove efficacy in depression. It was very disappointing. I am happy to hear that the FDA did accept the companies sNDA for pimavanserin in Dementia-related psychosis; the big positive is that the FDA is not planning an ADCOM. It was primarily expected there would be an ADCOM, so the fact that it will not be is positive. The stock is trading down after hours, to around $49. The stock has reliable support at $48.
Anyway, that’s all
-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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