Home » The Bull Is Back as The Stock Market Charges Higher on December 3

The Bull Is Back as The Stock Market Charges Higher on December 3

The Bull Is Back as The Stock Market Charges Higher on December 3

MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN SHARES OF AAPL, NFLX, TSLA

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. Otherwise, enjoy the column!

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

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Yes, some of the pre-market fanfare died off once the market opened today, but overall an impressive rally with the S&P 500 up more than 1%.  But perhaps more important is that the rally held and finishing near the highs of the day.

The S&P managed to close right at resistance near 2,794. Clear this hurdle, the only hurdle that remains is 2,820. It may then be off to the races.

spx, sp500

 

Russell 2000

The Russell also had a strong day rise by about 1% and looks well on its way back to $1562.

russell

Technology (XLK)

Technology had a great day rising by more than 2%. What was most impressive was how the XLK ETF opened above resistance at $68.90, and then retested that breakout mid-day and went to rally.  It looks like the ETF may go on to test resistance around $70.50 next. technology

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Apple (AAPL)

Apple shares rose by 3% and cleared vital resistance around $180. Now, a rise back to $195 may now be in the works.

aapl, apple

Biotech XBI

The XBI Biotech ETF was up over 3% and is nearing resistance at $85.25. A rise above that sends it on to $91.50. Premium content from last week Biotech’s Are Nearing A Break Out

xbi

Tesaro (TSRO)

Tesaro was the big winner rising 59% after it was announced Glaxo would buy the company for $75 per share.

tsro

Tesla (TSLA)

It is amusing to watch how the market reacts when news hit the tape, like the chance that EV tax credits may go away.  Only for people to then realize, oh wait, that is right, Tesla’s credits are getting cut in half next year and will be gone by 2020 or 2021 anyway.  Oops!

tesla, tsla

Netflix (NFLX)

Netflix was a perfect example today, of pop higher, fill the gap mid-day, and rally into the close. There is obviously health resistance at $300, which means if the stock can rise above it, the stock is likely to head towards $330.  Premium Content from last week: Netflix Stock May Rise 15%

nflx

Amazon (AMZN)

Amazon, you think resistance is pretty firm at $1770? It sure looks like it to me. I think this one goes on to $1860 though. I wrote a more in-depth piece in the subscriber section. Amazon’s Rally May Have Just Started

amazon, amzn

AMD

Well, I was stubborn on AMD and was convinced it was going to $16. Ugh, so wrong. Now this thing is knocking on the door of a break out should it rise over $24 and may be on its way to $25.70

 

amd

Twitter (TWTR)

Twitter is also is seeing a breakout and may be on its way to $36.50. I wrote a piece on this for SA last week on some bullish option activity I was seeing. Twitter’s Battered Stock May Be Ready To Surge

twitter

Intel (INTC)

Intel cleared $49, and now has $52.50 in its crosshairs. I wrote a bullish piece on this one too last week.  Why Intel’s Stock Is Poised To Surge, premium content a few days before: Intel’s Stock May Be Poised To Rise 12%

intel, intc

eBay

eBay cleared some key resistance at $29.70 today and maybe on to $31.70. I had seen some bullish options activity on this one last week too! eBay Traders Bet On A Rise

ebay

Nvidia

But I’m not always right. Look at Nvidia, because so far I have been proven wrong. But we shall see. Nvidia’s Stock Faces Even Steeper Declines

nvda, nvidia

Good 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 results

sp500, amazon, netflix, apple, nvidia, amd, twitter, ebay,