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FEBRUARY 17, 2020
STOCKS: NVDA, INTC, GOOGL, V, XOM
MACRO: SPY, FXI, EWG
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN GOOGL, V
ON FEBRUARY 27 AT 12 PM ET, I WILL CONDUCT A FREE WEBINAR HOSTED BY INTERACTIVE BROKERS, IT IS FREE FOR ALL TO ATTEND. THE TOPIC WILL BE:
Stocks Still Have Much Further To Climb In 2020
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Stocks around the globe continue their grind higher with Europe piecing together a solid outing despite the US being closed on February 17.
Germany (EWG)
The German DAX continues to increase, extending to another record high on February 17. Again, this continues to confirm that the US market’s advance is not contained to itself, and that it remains a global market rally.
Shanghai (FXI)
The Shanghai Composite also had a strong session rising by more than 2% and has now recovered all of its losses from the coronavirus sell-off that followed the Lunar New Year break.
S&P 500 (SPY)
Meanwhile, the S&P 500 futures have been trading higher all day, rising by roughly 20 basis points to a 3,388. 3,400 is less than a day’s worth of trading at this point. However, based on current trends, I would think that after 3,407, which is the level of resistance I have noted, we could rise to around 3,470 in the futures. – Premium content – The Week Ahead- No Sign Of Stocks Slowing Down
Nvidia (NVDA)
Nvidia will be on watch tomorrow after it’s significant post earnings rise on Friday. The stock has come a long way, and that is because the business has come back. But now the stock finds itself at a wall of resistance at $293, and the shares are no longer a bargain. It means the road ahead may not be as smooth as in 2019. Watch for a gap fill down to $273. I talked about it more in this article I wrote for Forbes last night- Nvidia’s Stock Faces A Rough Road Ahead
Intel (INTC)
Intel looks like it may be getting ready for that advance higher to $71.50. Remember I was seeing bullish option betting in Intel on February 3 – Premium content – Intel Buyers Back?
Alphabet (GOOGL)
Alphabet looks to be consolidating nicely around the $1,520 region, and I think that sets up that jump to $1,600 we have been waiting on.
Visa (V)
Visa is very close to a new high, and it looks like it may head to $221.
Exxon Mobil (XOM)
I had noted in a free article that I thought Exxon could rebound to around $67, based on the chart and bullish betting. You can read more here – Exxon Mobil’s Stock May Be Due For A Big Reversal
Have a good one
-Mike
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.
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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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