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September 13 – Stock mentions: SPY, FCX, SQ, AAPL
Michael Kramer and the clients of Mott Capital own AAPL
Stocks had a blah day with basically nothing happening. It was a good week, so let’s not lose sight of that. But next week will be a massive week with the Fed meeting. But the odds of the Fed cutting rates is suddenly becoming less certain.
MACRO
Fed Futures
Fed Funds futures are currently trading at 1.875%, which fall pretty much in the middle of the 1.75 and 2% range. That rate has been on the rise since the beginning of September. Additionally, the CME Group now projects just an 80% chance of a 25 bps rate cut next week. That is down from a 90% chance last week.
So we can wait and see what develops next week. I’d be surprised if the Fed doesn’t cut rates.
S&P 500 (SPY)
It looks like there is a bullish pennant pattern that is forming on the intraday of the S&P 500. I think it is positive for the start of next week. Premium Content: The Outlook For Stocks May Be Growing Stronger – first two weeks free.
STOCKS
Freeport (FCX)
Freeport finally reached my target today of 11.00, and with that, we can check that one-off. I’m not sure what happens next. I will have to keep an eye on things.
Apple (AAPL)
Apple bounced off support today where it was supposed to at $217.40. The trend is still higher.
Square (SQ)
Square bounced some today, but the trend is still lower. Premium content Betting Square Falls, try the service, hate it cancel, I won’t cry, promise. 😯
That is all for today.
-Mike
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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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