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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The Bull is Back! Netflix, Amazon, Facebook, Tesla, Acadia May Go Much Higher
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN SHARES OF ACAD, TSLA, NFLX
READING THE MARKET PREMIUM EDITION- WATCH MICHAEL DISECT THE MARKETS – Stocks Rocket Higher With More Gains To Come
S&P 500 (SPX, SP500)
The stock market had a big bounce back today, and my guess is that there is plenty more to come. We couldn’t have drawn up a better plan for the S&P 500, after hitting the lows on Thursday, followed by two days of testing. I think we at least see an increase to 2,880 over the next few days.
The 10-year has been trading higher right along its trend line. I don’t think that will last. I do think we see a break lower, back into the 2.90’s%.
Netflix reported blow out results, with 7 million net additions. But the even more significant number is that fourth quarter guidance is for nearly 10 million net additions. I’ll be honest when I first saw that number it made very nervous, and it still does. It sets expectation at very high levels. We will be following Google trends very closely over the next few weeks, that is for sure.
For now, $405 is resistance, but I wouldn’t be surprised to see this stock trading well above that by year-end.
Amazon had a big day today rising to around $1,820. It was trading as high as $1,840 in the after-hours. Is FANG back? Let’s hope so. I still think Amazon can climb to around $1,900.
Facebook is suddenly starting to look better. Look at how that RSI is now beginning to trend higher. Also, the stock is nearing a break out of the falling wedge. $173 may be in the very near future.
I told you to be careful with Tesla if you are short, the stock is going back to $301.
Is that right? Acadia is trading $22.90. Wow! $24 next, and then its $27. Remember, depression data coming soon. How do SSRI ‘s and SNRI’s work? By blocking Serotonin. What does Pimavanserin, the drug, do? It is the blocks serotonin at the 5TH2A receptor site. I have thought for many years, and I am likely in the minority, that pimavanserin will work in depression, and that could be a huge deal for the stock.
That is all the energy I have for today. Despite the market’s significant rise and Netflix’s monster after hours, I had a really shitty day.
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.
spx, sp500, nflx, amzn, acad, fb, tsla