[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading]
Over the last 48hrs, the market is trading in a sloppy fashion as the key biotech sector is trading all over the map. The bulls are currently doing their best to defend support for the $IBB (biotech ETF) near its 50 DMA line. So far, every time, this market shows a HINT of trouble (selling), the bulls magically show up and aggressively buy stock. It is amazing to watch in real time and would be comical if it wasn’t so important. Typically, this is not healthy action and the market would be much lower but the fact that the Easy Money trade from global central banks is alive and well continues to give this market a very strong bid. Of course, the Fed meeting and Q1 GDP are tomorrow and that could change the near term playing field if sellers emerge. Until the buyers run out of gas, this market continues to deserve the bullish benefit of the doubt.
[su_heading style=”modern-1-dark” size=”18″] Positions [/su_heading]
Thankfully, the FLS portfolio continues acting very well. To protect our positions, we are moving a few stops up to breakeven, when and where possible. Here is a snapshot of the FLS portfolio as of 1pm EST:
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The service owns: TSLA +13.50%, HACK +5.82%, SPY +2.09%, AAPL +1.93%, GDX +1.69%, IBB -1.62%, FB – 0.96%
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The service will exit: TSLA @ 204.69, HACK @ 28.85, SPY @ 206.98, IBB @ 333.57, GDX @ 19.24,
AAPL @125.66, FB @ 78.42,
[su_heading style=”modern-1-dark” size=”18″] Working Buy Orders [/su_heading]
There Are No New Buy Orders
