• Market Insight

FLS Pre-Market Update: Another Buying Opportunity… 05/30/2018

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Note: 
This will be our only intra-week update due to the shortened holiday week. 
 
 
Market Update: Another Buying Opportunity 
The market sold off yesterday after the negative political headlines from Italy led many to question the future of the EU. The news appears to be another short-term buying opportunity as the selling was a little exaggerated. There was an interesting article overnight from Bloomberg (below) about the Bad Days in 2018 have been really bad for the stock market. Typically, at this stage of this aging bull market that is a negative sign and signals fatigue. But a lot more negative action needs to occur before we can even talk about a top. First, we have to see all the major indices slice and close below their respective 50 and 200 dma lines then take out Feb’s low. Until all three of these things happen, the longer-term trend remains higher. For now, the bulls remain in clear control as long as the market continues trading above its 50 DMA line. As always, I want to see where the market closes on Friday and will have a full report for you this weekend. 
 
Few AM Headlines That Caught My Attn:
 
FLS Portfolio:
The FLS portfolio continues acting very well. Remember, I like to buy the bounce after the dip and that is exactly what have done in recent weeks. Thankfully, we handled the latest pullback with grace, we locked in profits in several of our stocks earlier in the year, managed to hold on to ADBE and ISRG during the entire pullback and then began adding risk again in recent weeks as the market rallied. For those of you who want to hedge: Ticker: HDGE is my favorite way to hedge your portfolio. Here is a snapshot of the FLS portfolio as of Tuesday’s close:
 
 

Positions:

A.    The service owns:  

ADBE +119.64%, ISRG +44.20%, SFLY +1.24%, 

QQQ +2.59%, NFLX +9.09%, SQ +13.65% 

B. The service will exit: 

ADBE @ 201.56, ISRG @ 379.77, SFLY @ 90.87,

QQQ @164.71, NFLX @ 321.09, SQ @ 50.10 

 



Working Orders:
There are no working orders today
 



 
 
Disclaimer: 

This analysis contains information from resources believed to be reliable but are not guaranteed as to accuracy or wholeness as of the date of this publication. Past performance is not necessarily indicative of future results. There is always a risk of loss in trading and investing. Opinions articulated are subject to change without notice. This analysis and any opinions expressed are intended for educational purposes only and should NOT BE interpreted as a call for engagement in any transaction involving the purchase or sale of any security or investment product or service. The risk of loss in investing and or trading can be substantial, and traders/investors should carefully consider the inherent risks of such an investment in light of their financial condition. The author, firm, associates, or the firm’s clients may have a position in any of the investments mentioned and their positions are subject to change without notice.  Any reproduction or retransmission of any portion of this report without the express written consent of 50 Park Investments is strictly prohibited.

 
 



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Picture of Adam Sarhan

Adam Sarhan

Host Of The #SmartMoneyCircle Podcast, Founder and CEO of 50 Park Investments. Adam provides weekly market updates to ChartYourTrade.com readers. He is a FORBES Contributor and is a frequent guest on all the major financial media outlets.

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