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April 11, 2019
Michael Kramer and clients of Mott own Apple, Disney, Tesla, Netflix
US Trading
- S&P 500 Futures +4 points
- 10-Year Yields 2.48%
- Oil $64.07
- VIX 13.14
- Dollar Index 96.93
International Trading
- China Shanghai -1.6%
- Hong Kong HSI -0.93%
- Japan Nikkei +0.11%
- South Korea Kospi – Flat
- Germany DAX +0.29%
- UK FTSE +0.17%
Global Growth Proxies
- Copper -0.41%
- Silverย -0.88%
- Platinum -0.41%
- Semis SOX +0.86%
Key News
Futures
S&P Futures are nearing a big break out at 2,898. It could trigger a rise to 2,942 on the futures.
S&P 500 (SPY)
Should the futures hold the S&P 500 cash is pointing to a breakout today that would push the index above the resistance level at 2,891 that we have watched so closely in recent trading sessions. It would set up a rise towards 2,915.
Tesla (TSLA)
Tesla shares are falling after the Nikkei Asian Review noted that Panasonic and Tesla were freezing spending on gigafactory 1 in Nevada.ย There are so many moving parts lately to the Tesla story that even after followingย the company for almost 5-years it is getting increasingly difficult for even me to know fact from fiction. Even Electrek is questioning the report. Bloomberg, model 3 tracker despite running hot last quarter, is still showing plenty of production coming out for the Model 3.
The stock is once again testing the lower end of the range.
Chipotle (CMG)
Chipotle was downgraded today at Jefferies to hold from Buy with $300 price target.ย The trend, for now, continues to look higher with $760 the next major level of resistance.
Eli Lilly (LLY)
Eli Lilly was downgraded at Guggenheim to neutral from buy. This stock has been a beast, but for the first time, one can look at the chart and say that perhaps the trend has finally started to shift. $122 is still a healthy level of support.
Disney (DIS)
Today’s is the big even for Disney with their investor day. Unfortunately, we will need to wait until 5:20 PM to start getting the details because that is when it starts. You can watch it live.ย To say I’m excited about the event is an understatement. I have waited for this the past few years.
Netflix (NFLX)
Netflix will report results next week, and I wrote up a story for why I think the stock may rise following those results.ย Netflix May Rise Sharply Following Quarterly Results. For now, the stock seems pretty range bound, but the trend continues to be higher.
Apple (AAPL)
Apple was initiated with a neutral rating and $209 price target at Credit Suisse. I continue to believe it moves towards $209.
That is going to it.
Later
-Mike
Mott Capital Management, LLCย 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.