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Michael Kramer and the client off Mott Capital own Apple
Stocks Mentioned: Apple, Amazon, Intel, Nvidia, Square
May 9, 2019
S&P 500 (SPY)
Stocks had a wild day of trading that resembled something like a casino or a rollercoaster, with ups and downs, twist and turns. It is impossible to know for sure, but the comeback was impressive and perhaps more important is where the index stopped falling. The S&P 500 filled a very important gap that was formed on April 1 today at 2,836. From that point on it was up on the S&P 500. I pointed this out this morning in a premium article post.
There is still plenty of work to do because a downtrend has formed in the index and now the S&P 500 would need to clear 2880 to confirm a break out from the downtrend, giving hope for a rise to 2,915.
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Rates
The 10-year treasury yield also managed to hold on to support at 2.42%.
Square (SQ)
I saw some bullish betting in Square today, and the stock continues to hold support at around $65.50. You can read more here in a premium room write up about the opinion activity.
Apple (AAPL)
Apple fell below the uptrend but is still holding on to support at $198. A break below this price sends Apple’s stock down $194.
Amazon (AMZN)
Amazon fell below support at 1,900 today, and that means the stock may be on its way to $1850. The uptrend that has been in place send March is broken too.
Intel (INTC)
Intel has broken down and the region around $46 needs to hold or a drop to $42.50 seems likely.
Nvidia (NVDA)
Nvidia looks weak and $150 may now be on the table for the stock.
That is it. At least tomorrow is Friday!
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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