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September 11, 2020
STOCKS – AMZN, AAPL, FB, TWLO
Macro – SPY, QQQ,
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MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN AAPL, MSFT
Stocks finished the day mostly lower with the Qs falling by 70bps, and the S&P 500 finishing flat. Ironically, both ended the day, at there September 9 lows.
NASDAQ 100 (QQQ)
I’m sure it not a coincidence, but I’m not sure if or what its significance would be, except for people may be wanting to finish with as little exposure as possible.
I think the selling in the market isn’t over, as we do not see any signs of fear or capitulation. The Nasdaq 100 is down about 12% from the peak, and it feels very calm out there. Maybe it is because I haven’t listened to a major financial news network for months. But, I don’t even see many headlines suggesting nervousness. I can’t remember a 12% decline in any index being so, well, not a big deal. The put to call ratio is barely at 1, 1.005 to be precise.
It as if like nobody even cares?
The S&P 500 is down about 7.6% from the high. Anyway, we haven’t even got to gut-check time. Maybe it is just me.
The big problem and the reason why I think this market is going lower still is that the Big 5 or whatever the number is now hasn’t even broken yet. I went over this in a video today. Amazon, Apple, Microsoft, to name a few, are just on the cusp of a significant move lower. When they go, the real action will start.
Amazon (AMZN)
Amazon has moved beyond its uptrend and is sitting on support at $3,100. I still think it goes to $2,800. I have been saying it for weeks, I know.
Apple (AAPL)
Apple bounced off of support at $112 today, but I don’t think that last. I believe this stock is heading back to $95.
Facebook (FB)
I think Facebook could easily pullback to around $235.
Twilio (TWLO)
This morning, I wrote about Twilio, but I meant Shopify. Now, I mean Twilio, and I think it heads back to $180.
Anyway, that names a few, there are so many more.
-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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