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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MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN NFLX, TSLA, AAPL
Good Morning Today is Friday, January 4
- S&P 500 futures are pointing to a higher opening of 32 points as of 7:00 AM
- The US 10-year rate is at 2.60%
- Dollar Index is at 96.15
- WTI Crude Oil is $48.14
- VIX: 23.93,
- Critical events for today: US BLS Job Report Estimates are for 180,000, Fed Chair Powell Speech at 10:15 AM, US-China Trade Talks to start next week
Recap of International Trading:
- Hong Kong Hang Seng Index up 2.24%
- Japan down 2.26%
- China Shanghai Comp. up 2.05%
- UK FTSE up1.37%
- Dax up 1.79%
- China Services PMI Composite 52.2 vs. Est. 51.9, Services 53.9 vs. Est. 53.8
S&P 500 (SPX)
Stocks are rising today after China posted better than expected Services PMI and Composite PMI, which measure services and manufacturing. Additionally, China confirmed overnight that trade discussions would start next week, obviously a positive. As a result, the S&P 500 is looking for a raise of about 1.3% to start the day.
2480 shall be resistance, while a rise above that could send the index on to next significant resistance around 2520.
Apple was bouncing some today after its steep sell-off yesterday. There may be an opportunity for Apple to rise back to around $154 filling the gap from yesterday over the next few weeks.
Is the Apple “slowdown” really due to just the economy:
True the tweet by the employees was on the company’s account, but still, it shows there is no love lost.
Tesla is rising today on reports the company plans to begin shipping Model 3’s to China in March. $300 has been a firm level of technical support for a few weeks now.
Facebook is working towards improving growth and security. The stock is trading over $133 this morning. It could clear a path for a rise towards $140, but don’t get too excited every attempt for this stock to break out has been met with selling.
Netflix had a strong showing in a lousy tape yesterday, and the stock is picking up right where it left off. It always a good sign when a stock rise in a horrible market. Netflix is no different. An increase over $285 sends the stock on to $300. The stock was added to the conviction buy list at Goldman
Alibaba is back in a critical range of technical support that much hold around the $130 region. Easing trade tension would help this stock.
Intel is rising today after Bank of America upgraded the stock to buy and $60 price target. Resistance for the stock is at $46, then $48.
Good Luck Today!
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.
S&P 500, apple, alibaba, intel, netflix, facebook