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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Markets bounced today, with the S&P 500 finishing at 2,440 and the Nasdaq closing at 6,220.
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Tech Bounce
Materials (XLB), Financials (XLF), and Tech (XLK) all lead the charge higher.
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Biotech Breakout/ Tech Bounce/ SPX Changing Course – VIDEO
Tesla the canary in the coal mine?
But it was Tesla (TSLA), that was the standout stock. Perhaps the canary in coal mine for the recent room high in the markets overall.
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Tesla shares are now higher than where they were on Friday and perhaps give a clear signal for just how strong the risk appetite for this market still is.
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Disclaimer
Michael Kramer and the clients of Mott Capital Management, LLC own shares of TSLA.
Michael Kramer is the Founder and Portfolio Manager of Mott Capital Management LLC, 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 recommendation made during the past twelve months. Past performance is not indicative of future performance.