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July 1, 2020
STOCKS – ACAD, FDX, TSLA
MACRO – SPY
Mike Reading The Markets Premium Content – $35/Month or $300/Year
- Gap Filled, Resume The Previous Trend?
- The Rest Of The Week Could Be Tough
- The Fed’s Falling Balance Sheet Could Spell Trouble
- RISK IS BUILDING- MIDDAY
- Facebook Is The Key Today’s Market – Morning
- THE WEEK OF JUNE 29 WILL BE CHALLENGING
- Earnings Trends For June 27
- Facebook Adding Fuel To Fire – Midday
- Disney Shares May Plunge By Up To 14%
- Winds Are Swirling
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN TSLA AND ACAD
Stocks are moving lower this morning with the S&P 500 futures consolidation around the 3080, but now starting to turn lower along with the rest of the world. I can’t find specific news triggering the move. It could be a bit of an unwind from yesterday’s sharp rally and end of quarter window dressing.
The ADP job report is due out at 8:15 AM, and the estimates are for a gain of 2.7 million jobs in June. Meanwhile, the ISM manufacturing report at 10 AM and estimates are for 49. Based on the chart below of the SPY ETF, one can see that today’s economic data have a significant impact on whether we break out and rocket higher, or fail at resistance and move lower.
FedEx (FDX)
FedEx is jumping this morning after reporting better than expected results. The company noted in its conference calls it is seeing week over week improvement in its business since bottoming in April but notes the tentative economic recovery. There is a gap to fill around $160.
Tesla (TSLA)
Well, it is July first, and that means we will get Tesla’s delivery numbers at any minute. The numbers generally come no later than the 3rd day of the new quarter. So that means email leaking is in peak season. The big question and the only thing that will matter is will they or won’t be profitable in the second quarter, and will they be up for S&P 500 inclusion. That inclusion could be what pushes shares to around $1200.
Acadia (ACAD)
This could be a very big quarter for Acadia, as we will likely get the company’s depression data this quarter. If the data comes in positively, as I mostly believe it will, then the company could have a significant new indication to add to its potential revenue stream. The stock has been consolidating nicely in recent weeks in the $45 to $53 range.
Have a good day.
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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