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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September 13 – Stock mentions: SPY, IWM, ACAD, NFLX, SQ, JD, FCX, C
Michael Kramer and the clients of Mott Capital own NFLX, ACAD
- S&P 500 +9 points
- US 10-Year 1.79%
- VIX 13.85
- Dollar Index 98.02
- Oil $55.11
- Shanghai +0.75%
- HSI +0.98%
- Nikkei +1.08%
- KOSPI +0.85%
- DAX +0.63%
- FTSE -0.01%
- Retail Sales +0.4% vs. est. +0.2%
- Import Prices -0.5% vs. est. -0.5%
- Export Prices -0.6% vs. est. -0.1%
Global markets continue to rally on hopes of easing trade tensions. The Shanghai composite is tracking higher and moving towards resistance at 3,065.
Interest rates in Germany continue to power higher and now stand at -0.495%. They continue to appear to be on their way to around -0.4%. Meanwhile, the euro continues to strengthen versus the dollar and is now creeping up approximately 1.11 to the dollar.
S&P 500 (SPY)
S&P 500 futures are trading right at their all-time today. One will need to start thinking about how the next fear trade that is about to take hold. This time it may be the fear of missing out, and that could help to push stocks higher into year-end. Premium video: The Biggest Fear Trade Is Yet To Come
The IWM Russell 2000 ETF is breaking out of its one-day resting period and is likely to continue higher towards $161.
Acadia was upgraded today at Leerink to an outperform from a market perform with the price target going to $50 from $21. The stock has been stuck in the $40 to $42 range. But let’s not complain, the stock has had a pretty good week. I still $48 on the horizon.
Piper Jaffray noted today that it seems that Netflix international subscriber growth is running ahead of guidance. The stock is completing the falling wedge pattern, and a jump above resistance at $294 could start getting the shares moving higher. I wrote about for this for the premium subscribers this week. Netflix Still Has Some Life Left. Hey read it, the first two weeks are free. If you hate my write up cancel, I won’t get insulted. I’m used to it.
Freeport is also moving up today and is breaking above resistance at $10.40 and now has a clear path to $11. I first noted the bullish trends last Friday when the stock was around $9.50. Again, you can read it in the premium section. Why Freeport And Copper May Be Heading Higher
JD.com is finally breaking out, and some bullish options betting I saw yesterday suggest the breakout sticks. JD.Com Seeing Bullish Betting – Premium content
Square continues to be breaking down, and the bearish options betting signaled the new trend lower in the stock. Betting Square Falls
Citigroup looks like it can continue to rise to around $71.50.
Have a great Friday-
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.