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April 29, 2019
Michael Kramer and the clients of Mott Capital own Disney, Alphabet, Tesla
Michael Kramer owns IWM Calls
US Markets
- S&P 500 Futures -1.5 points
- US 10-Year 2.51%
- Dollar Index 98.03
- Oil $63.09
- VIX 13.20
International Markets
- Japan Nikkei -0.22%
- Shanghai -0.77%
- Hong Kong HSI +0.97%
- KOSPI +1.7%
- UK FTSE -0.07%
- Germany DAX -0.24%
International Markets
Shanghai (FXI)
The Shanghai Composite continues to melt down, but it is at a point now where it should find a bounce. The index has dropped to technical support around 3,220. Additionally, the RSI has retraced and returned to the uptrend. The index is at a good spot to find a rebound.
US Markets
S&P 500 (SPY)
The S&P 500 will attempt to break out today and set a new intraday high above 2940.
Russell (IWM)
The Russell will attempt to break out today rising above 1593.
Disney (DIS)
Disney’s stock is rising this morning yet again, this time after its latest Avengers movie smashed all kinds of opening weekend records.
Adobe (ADBE)
Adobe is popping this morning after Morgan Stanley upgraded the stock to overweight from equal weight and put a price target of $340 on it. The stock probably has room to rise to around $290 before pausing again.
Tesla (TSLA)
Tesla is bouncing some today. The stock has been decimated following its first quarter results. It appears that the SEC and Elon Musk have agreed on his Twitter account. For now…
I think the stock is oversold and due to bounce. But then again I have said that before. This is kind of like the point of no return for the shares, so if you are long, it has to bounce here.
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[youtube-feed feed=7]Alphabet (GOOGL, GOOG)
Alphabet reports results tonight, and the stock is trading higher ahead of the news. I can’t remember the last time Alphabet had a big move following results. Anything above $1295 is a new all-time high.
Intel (INTC)
Intel needs to stay above $52.50 today.
Good Luck,
-Mike
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Charts used with the permission of Bloomberg Finance L.P. 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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