6 Stocks To Watch For The February 27 Trading Session

U.S. Trading

  • S&P 500 -5 points as 8 AM
  • 10-Year 2.63%
  • Oil $56.60 +1.96%
  • VIX 15.5
  • Dollar Index 95.98

International Trading

  • Japan Nikkei +0.50%
  • Shanghai +0.42
  • Hang Seng -0.05%
  • KOSPI +0.37%
  • ASX200 +0.36%
  • DAX -0.38%
  • FTSE -0.67%

Late Start

Sorry, today will be brief. I overslept. I was up late last night working on a last-minute project request I got late yesterday. Nothing like burning the midnight oil on a Tuesday night. At 41, I find the recovery time the next day isn’t what it use to be.

S&P 500 (SPY)

Anyway, the S&P 500 is flat this morning February 27, and from the few headlines I have caught today, I can’t see why there should not be a continuation of what we have seen these past few weeks. The one thing that continues to bother me is that gap down at 2,750. In the worst case scenario, it should serve as strong support, keep an open mind that it is looming out there. That is all.

S&P 500, spx

Technology ETF (XLK)

The technology ETF broke out and for today support will be at the $70.40 level.

technology

Acadia (ACAD)

Acadia reported results that were mostly in line with expectations. Guidance for the year was a bit light at the mid-point. But nothing that I am concerned over. I think they are likely taking a much more conservative approach this year given the scale back of last years revenue guidance. More important will be the trail results scheduled for calendar 2019 with schizophrenia and dementia-related psychosis. I do believe that the positive MDD trail results from the fall suggest that Acadia will have success in the schizophrenia trials. Also, I like that the company appears to have scrapped its SPCD design for the next round of Phase 3 trials in MDD. I think given the results of data in Clarity it points to a good chance of a positive outcome for MDD. But there is a while to wait.

The stock still has a significant resistance level at $24, with a break out sending it to around $27. No change there. I do think the result, and the promise of these trials eventually get the stock moving.  There is a reason the Bakers own 30%+ of the company.

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Disclosure: Michael Kramer and the Clients of Mott Capital own Netflix, Acadia, Tesla

Disclaimer: This article is my opinion and expresses my views. Those views can change at a moment's notice ...

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