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The Day in Trading for AMD, JD, Sirius, Disney, Amazon, Square, & Intel
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN: DIS
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S&P 500 (SPX)
The S&P 500 pulled back some on Monday, dropping by about 40 basis points to 2,919. Support around 2,915 has been firm since breaking out late last week. At this time, the trend still seems firmly higher. But again, as we noted last weeks, there are still some critical areas we need to watch mainly in oil and rates.
I talk more about this potential risks and sectors of concern in my last subscriber video:Â Market Trends Remain Strong
AMD (AMD)
AMD had another strong showing today after RBC initiated coverage with an Outperform and $40 target. But take notice where AMD’s stock stopped rising again? Yep, right around resistance at $32.30 and the downtrend. It is kind of interesting to see how the stock continues to struggle around those prices.
Update as of 6:11 PM on 9/24- The stock did manage to close around $32.60 on the day, above the downtrend. But I want to give it a day or so to see if holds.Â
JD
The China stocks continue to get rocked, with JD now falling below $24.50. I think the odds are growing for this stock to test to $22.30 in the not to distance future.
SiriusXM (SIRI)
SiriusXM, a stock we do not talk about much here, has finally taken the plunge to buy Pandora. It seems like two years ago, this was a rumor every day, and now it is finally done. I’m not surprised one bit by the news, Sirius needs a presence on streaming, the world is moving that way. I say that because I have little kids, and most of the time when going on long road trips in the car, we don’t listen to our satellite radio, the kids are streaming YouTube on the phone, or Netflix. The market does not like the deal, with SIRI falling by 9%.
Technically the stock isn’t broken, but that doesn’t mean it can’t fall to $6.
Disney (DIS)
The market seems pleased that Disney did not buy Sky, with shares rising by about 2%, Comcast fell by over 6%. It works out nicely for Disney. I am happy they didn’t buy SKY for one, I think they can use that money for better things in the future. I also believe that international growth will not be a challenge for Disney’s direct to the consumer product. If Disney plays its cards right, perhaps they capture Hulu from Comcast, and then by the remaining 10% from AT&T.
For the first time in about two years, I’m now drawing in a new uptrend for the stock. Hopefully, it will last.
Amazon (AMZN)
Amazon continues to trend lower, and at this point, $1840, seems to be coming to play at some point soon.
Square (SQ)
Did you see Square today? It bounced right off our support level around $82, jumped higher, back to the downtrend, and guess which way it is heading now? Yep, lower along the downtrend. Amazing stuff to watch, the algos at work!
Intel (INTC)
Intel is amazing too. Look at this chart. The stock fell to downtrend, and bounced right off it! At least, for now, the break out is holding steady.
Amarin (AMRN)
How many times do you see a stock go up 300% in a day? Not many. The company reported positive results from a clinical trial for a drug made of Fish Oil to lower the risk of cardiovascular events. I’m not surprised, I take my Nordic Naturals Omega 3 every day, and it has lowered my cholesterol. Now Amarin’s suppose to be a more pure form, with just the EPA, where Nordic Naturals has EPA and DHA. But there you go, up 305%.
That is going to be it!
Subscriber Video’s
Michael Kramer is the Founder of Mott Capital and the creator of Reading the Markets.
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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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