[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading]
The market remains strong and the fact that it refuses to fall is bullish. Especially, when you couple it with the fact that almost everyone doesn’t “trust” this market and the major averages are trading less than 3% below their 2015 and/or record highs. I love the term Gary Kaltbaum (GaryK.com) uses – bullish pixie dust shows up every time the market pulls back a little (today the most recent example) and the market snaps higher. Remember, our thesis is that the primary driver of this very strong bull market remains easy money from the Fed and other global central banks (a.k.a. The Central Bank Put). Eventually, the market will stop responding so well to all this printed money but until then, the market deserves the bullish benefit of the doubt. To be clear, if the #EasyMoney trade was not around, this would be a classic case of a market topping out because so many areas underneath the hood look very weak. But until it breaks, we are in a strong (and aging) bull market and, as always, we must respect the tape.
[su_heading style=”modern-1-dark” size=”18″] Positions [/su_heading]
The FLS portfolio continues to act well and we are well positioned if the market decides to move higher… If not, we are out and comfortable. As of this writing (2:07 pm EST),
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The service owns: TSLA +19.72%, GDX +0.60%, AAPL -2.65%,
NFLX +1.24%, REGN -1.73% -
The service will exit: TSLA @ 204.69, GDX @ 19.24, AAPL @ 121.62,
NFLX @ 551.97, REGN @ 453
[su_heading style=”modern-1-dark” size=”18″] Working Buy Orders [/su_heading]
[su_table]
| Status | Order | Ticker | Buy Stop | Protective Sell Stop | Risk from Entry |
| Working | Buy | SWKS | 99.57 | 94.57 | -5.02% |
| Working | Buy | HACK | 30.47 | 28.69 | -5.84% |
| Working | Buy | MTH | 45.67 | 43.25 | -5.30% |
| Working | Buy | XLF | 24.87 | 24.03 | -3.38% |
[/su_table]
