Stocks Rise On December 15 On Stimulus Hopes, Again

Stocks finished the day higher, finishing just below yesterday’s high on the S&P 500. Not much really changed here from yesterday, as the trends still suggest lower prices.

What is most interesting to me is that the indexes rally on news of a potential stimulus deal, while the size of the stimulus gets smaller and smaller. We were 3,200 when the stimulus deal being floated was between $1.8 trillion to $2.1 trillion. Now it seems like the Dems may be lucky if it’s $900 billion. I guess they should have taken the $1.8 trillion when they had a chance. But the S&P 500 is up over 10%. This, as the economy is flashing mixed signals, makes zero sense.

Apple (AAPL)

Apple did finally break out of that range around $124 when it was reported they were raising production on the iPhone by 30%. Anyway, it seems like the next stop is likely to be around $131. Today’s move higher also came on solid volume levels, a positive.

Acadia (ACAD)

Acadia got a big boost from Mizuho after hours, with the firm initiating it a buy with a $69 price target. The gap from early November is filled, and hopefully, it continues to higher now, back to $58.

AMD (AMD)

I went through some of the metrics on this deal with AMD for Xilinx. I really wonder if shareholders even realize how much they will be dilute here. The way the stock trades, you have to think they haven’t a clue. Oh well, not my problem. Good Luck. AMD’s Stock Will Struggle Under The Weight Of Xilinx

We will see if the break out holds today; we still need confirmation tomorrow 

Disclosure: MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN AAPL AND ACAD.

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