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Tesla Model 3, Biotech, Netflix and More- The Monster Daily Commentary

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Tesla

Electrek is reporting that there are now hundreds of Tesla’s model 3’s coming out of Fremont facility. The article has a link to a video of a drone flying over the Tesla plant, showing the parking lot filled with Model 3 inventory.

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The stock is still hanging on at the $330 range, and the next major catalyst for the stock will be the final delivery numbers for 4Q, which come during the first few of days of January. I have no idea what that number will be. But I did drive to my local Tesla, in Manhasset, NY, and was only able to find one of each Model S and X in the parking lot. They usually have a pretty good number of them on hand.

Biotech

The Biotech ETF ($IBB) made an attempt and for a time was able to trade above $107 today. Closing slightly below that market. A positive sign for sure and it could signal a breakout could be coming soon.

Even the iShares Biotech ($XBI) is starting to look it wants to break out and start rising again.

The strength came despite Biogen ($BIIB) having a tough day, falling to support at $319. The good for Biogen is that it held support despite some negative data.

Tomorrow looks like it will be Celgene’s ($CELG) turn to weigh on the sector again, as it released some disappointing phase 2 data after the close. The stock was trading down about $5 to $102.

There is a positive in this; it offers us a chance to see how strong the buying is at $102. It was a tough level to crack on the way, up and held support just recently. If the buyers are for real, it likely holds again.

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Discretionary Stocks

Discretionary stocks could be about to turn, the chart on the XLY looks troublesome, with declining levels of volume, and a divergent RSI reading.

Stocks like Amazon ($AMZN), Home Depot ($HD), Costco, ($COST) and McDonald’s ($MCD), have had massive years, so a pullback would not be crazy at some point. Just look at the gains, McDonalds and Home Depot are up almost as much Netflix and Amazon, crazy moves! Huge moves. Watch the XLY for signs.

XLY data by YCharts

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Netflix

Netflix has been trying so hard to break out over $190, and just can’t. It got very close today but just couldn’t hold.

It has been trying for days now; it just can’t get up enough steam to charge ahead.

Watch Netflix and $190, a rise above and its rallies hard. If can’t get above $190 we may be looking to retest the low $180’s again.

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That is going to be all for today.

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Michael Kramer and the Clients of Mott Capital own shares of TSLA and NFLX

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.

Tags: #tesla #amazon #netflix #model3 #mcdonalds #homedepot