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April 16, 2019
Michael Kramer and the clients of Mott Capital own Cisco and Netflix
US Market
- S&P 500 Future +10 points
- 10-Year Yield 2.57%
- Oil $63.44
- Dollar Index 96.96
- VIX 12.12
International Market
- Japan Nikkei +0.24%
- China Shanghai Comp + 2.39%
- Hong Kong HSI +1.07%
- South Korea Kospi +0.26%
- Germany Dax +0.63%
- UK FTSE +0.45%
Global Growth Proxies
- Copper $2.9345
- Platinum $891.20
Economic News
- German ZEW survey came rose to 3.1 versus estimates of 0.8% and up from -3.6 in March
- US Industrial Production Estimate for +3.6%
- CHINA GDP Tonight Estimate 6.3%
International Trading
China
China had a big night and is now nearing its next major break out. The index closed at key resistance of 3,255 setting up a potential move to 3,330.
US Trading
S&P 500 (SPY)
The S&P 500 is pointing to a 10 point increase to the start day, which would place the index around that the big resistance level we have watched at 2,915. It would be ideal if we can close above 2915 today.
Netflix (NFLX)
It will be a big day for Netflix with results coming tonight after the close. Not much to say that is new. Based on all of my data and research I’m looking for a better than expected subscriber growth number and for this stock to start making its way towards $400 again. Deutsche Bank upgraded the stock to buy with a $400 price target today.
Bank of America (BAC)
Bank of America is trading flat after reporting a beat on EPS and inline on revenue. The stock continues to hover around that technical resistance level around $30, with the potential for a push towards $32.
Cisco (CSCO)
Cisco had its price target raised to $62 from $58 at Goldman. Additionally, the stock was rated a buy, but removed from its conviction buy list. Cisco broke out a few weeks back rising above $55 and could be on its way to $70.
Micron (MU)
Micron was initiated at Nomura at hold with a $45 price target. I don’t know where this stock is going at the moment. The chart is sideways and has no catalysts on the horizon. Sideways is probably the direction it continues to go.
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[youtube-feed feed=7]Facebook (FB)
More negative headlines on Facebook. It probably doesn’t matter because the stock is still heading to $186.
Amazon (AMZN)
Amazon will now be watched closely today as $1850, as this has been a significant level of resistance for the stock. This morning in the pre-market it is trading above that resistance level.
Good luck
-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.