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.
Otherwise, enjoy the column!
Subscribe to the Monster Stock Market Commentary to get the Weekly Monster Market Commentary and join the 3,338 subscribers getting it for FREE!
June 17 – Stock mentions: SPY, XBI, DIS, SBUX, AVGO, FB, BYND
Michael Kramer and the clients of Mott Capital own DIS and AAPL
- S&P 500 futures +2.5 points
- US 10-Year 2.12%
- Dollar Index 97.51
- Oil $52.12
- VIX 15.66
- Japan Nikkei +0.03%
- Shanghai Composite +0.20%
- Hong Kong HSI +0.40%
- South Korea Kospi -0.22%
- Germany DAX +0.05%
- UK FTSE -0.07%
Premium Content – A Look At The Week Ahead – June 17 Edition
Stocks To Watch For June 17
S&P 500 (SPY)
S&P 500 Futures are flirting with a rise above resistance at 2,900 on June 17. We can also see the futures are now trending higher, which is a positive.
Biotech stocks should get a shot in the arm on June 17 after it was announced that Pfizer would buy Array Biopharma. M&A has been something that has been missing from the biotech sector for some time and perhaps this news gets the sector moving higher. The XBI is flirting with resistance this morning at $82.90.
Disney was downgraded this morning to in-line from Outperform at Imperial Capital with a $147 target. DIS was flirting with its all-time highs last week. Support comes at $132.
Kind of strangely, or not, Broadcom which fell sharply on Friday is still higher than where it was on June 3 and is well off its Friday lows. I think AVGO fills the gap back to $280. Perhaps with AVGO trading at 11 times next’s years earnings estimates all of the bad news has already been priced into the stock.
It is amazing to me how investors worry so much about what impacts of a trade war will have on Apple and China iPhone sales, but when it comes to SBUX, nobody cares? I guess the China consumer is willing to give up its iPhone, but not it’s coffee? Strange.
Facebook next level of resistance comes around $186.
Beyond Meat (BYND)
Resistance for Beyond Meat comes at $164.50
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.