Global Growth Returns, 6 Monster Predictions For The Week Of Feb. 11

If the metal continues to rise above its current region of resistance around $2.80, it would confirm that a double bottom has formed, and with the next level of resistance not coming again until roughly $2.92.



Silver is another metal with industrial uses, and it too is starting to rise. If Silver manages to climb over $16.30, it could very well be on its way to nearly $17.50.



Iron-ore prices are surging due to the disaster in Brazil and Vale. So limited supply is behind this move. But there are signs the price of the metal was rising ahead of the disaster. The metal could be on its way to $110 a price it has not seen since 2013.  Remember China was closed all last week for the Lunar new year.  Watch the metal this week.

iron ore

Anyway, lets move on. Enough with all the reasons to be bullish on stocks. I know it’s not in vogue these days to be optimistic.  So let me bring the mood down for you.

Amazon (AMZN)

You want something to be bearish on? Amazon is one stock that I am not bullish on, and as I have said for some time now, I still see the stock falling further, and $1520 seems like a real possibility now that the stock is below $1,600. The RSI is pointing to lower prices and a drop below $1,520 send the stock to $1,450.

Amazon, amzn

Nvidia (NVDA)

Nvidia reports results this week, and the options market is looking for a rise or fall of about 13% from the $145 strike price by expiration on March 15. It places the stock in a trading range between $126 and $164. Talk about a big range! The problem for Nvidia is that the puts outweigh the calls not only at $145 strike price but the $150 and the $140 strike prices.  Talk about bearish betting.

If there is good news it is that demand for their GPU’s does seem to be on the rise. The prices for the  GeForce GTX RTX 2080 Ti Founder’s Editions are rising since reaching a low in mid-January.  But it may be too late for their second-quarter guidance.

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Disclosure: Michael Kramer and the clients of Mott Capital own Netflix

Michael Kramer owns SMH March 15 $101 Calls

Disclaimer: This article is my opinion and expresses my views. ...

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