This column is my opinion and expresses my views. Those views can change at a moments notice when the market changes. I am not right all the time and I do not expect to be. I disclose all my positions clearly listed on the page, and I do not trade my account on the stocks spoken of in this column unless fully disclosed. If that does not work for you stop reading and close the page. Do not bother me or harass me.
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Verizon Is On The Cusp Of A Breakout, plus FANG’s, Micron, Nvidia, Apple
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN SHARES OF VZ, NFLX, AAPL, GOOGL
It was a pretty sleepy Friday in the middle of August, and then thing perked up a bit this afternoon when word reached the markets that China and US are working to resolve their trade dispute by November. So the S&P 500 finds itself closing out the week right around 2,850. It should help start next week off on a positive note.
FANG’s continue to struggle with all of them trading lower, not materially, but still lower. That comes despite the NASDAQ rising by about 30 bps on the day. Again, we are seeing the continued rotation out of these names for now and into the staples stocks. Member Video: Trouble Ahead For FANG Stocks?
One stock that I own, and have been observing the last few days is Verizon. The stock is nearing a multi-year breakout, and it could be significant. Remember the fifth generation of wireless technology (5G) is coming, and it will be revolutionary in my opinion, and Verizon may be the better choice. I laid out the case for Verizon in my latest member video, as well as a bunch of other things, including Tesla and the FANG’s. Verizon Nears Multiyear Break Out As 5G Data Speeds Near
Amazon continues to struggle as mentioned up top, and the trend has now turned lower on the intraday chart and should $1,840 not hold over the short term than a further decline to $1,740 comes into play. Member video: Amazon May Plunge 10%
Nvidia fell today, and perhaps more importantly, below a key uptrend. For now, $243 is holding, but one needs to be careful, it may take some time for the news to be flushed out, and that means $235 and perhaps even $217 comes into play.
I redrew the Micron chart for the most recent wedge in an attempt to figure out where I went wrong, and for now it is offering signs of support. It would surely be nice to see the stock get a bounce. The stock got pretty close to the $45 price was watching, and so Monday will be critical.
Apple continues to rise after the breaking out. I had been looking for $220, and we are now almost, there. Member video: Why Apple May Rise By 50%
That is it for now, more over the weekend.
Michael Kramer is the Founder of Mott Capital and the creator of Reading the Markets.
I started learning to invest when I was 16 years old. At 40, I have pieced together a long career on Wall Street, working as an analyst, and a domestic and international equity trader at two multi-billion dollar equity firms.
I started Mott Capital in 2014 to follow a passion and dream of being in control of my career path.
The idea behind Reading the Markets was to help both individual and institutional investors benefit from my experience in the business and my unique approach to dissecting stocks and the markets, which helped me become a great trader.
Reading the Markets is unique, in that the video does not only serve as a means to deliver the content but to interact, making it a personal learning experience, while also showing the user how I go about finding my research and how you can use the process to do your work.
I want this product not only to be profitable and enjoyable but also affordable.
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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.