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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6/21/19 – Stock Mentions: SPY, MU, BYND, AMD
- S&P 500 Futures down 6 points
- US 10Year Treasury 2.03%
- Dollar Index 96.58
- VIX 14.82
- Oil $57.33
- China Shanghai +0.50%
- Japan Nikkei -0.95%
- Hong Kong HSI -0.27%
- South Korea Kospi -0.27%
- Germany DAX -0.08%
- UK FTSE +0.19%
S&P 500 (SPY)
Stocks are pointing to a slightly lower opening but given the sharp run-up in June. The first significant level of support comes at 2,940 and then 2,915.
Micron is falling today after Robert W. Baird lowered its price target to $28 from $32. The next level of support for the stock comes at $32.50.
Beyond Meat (BYND)
Beyond Meat is testing support at $154, and could be on the verge of a drop to $125.
AMD is testing support at $29.40 with the potential to decline to around $28.50.
That’s it for today. I got off to a late start.
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.