[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading]
On Thursday, the Nasdaq 100 broke out and hit a fresh 15-year high. Typically that action is healthy and bodes well for the other major indices. Greece & China, the market’s two big perceived “threats” have been temporarily removed (for now) which is allowing market participants to breath a collective sigh of relief (or that is what the main street media is telling us). From our point of view, we are in a very strong bull market and weakness should be bought, not just strength. The fact that support held last week should suggest the market will continue to rally from here. In the short term, it is important to note that the S&P 500 rallied nearly 4% in the past week and is due for a little breather here to consolidate that move. Remember, in “normal” non-easy money days, a 10% rally for the entire year was considered healthy. So 4% in a week is a big move and illustrates the health of this bull market. All things being equal we believe the market will head higher from here. We want to see where the market closes tomorrow and will have a full report for you this weekend.
[su_heading style=”modern-2-dark” size=”20″] Portfolio Update [/su_heading]
Thankfully, the FLS portfolio is performing very well considering how the major indices have been acting in recent weeks. Here is a snapshot as of Thursday’s close:
[su_heading style=”modern-1-dark” size=”18″] Positions [/su_heading]
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The service owns: TSLA +30.28%, NFLX +40.72%, XLF +2.37%,
DPZ +3.89%, MTH +3.97%, AMZN +8.31%, REGN +5.86%, FEYE -3.27%, UA -2.01% -
The service will exit: TSLA @ 245.77, NFLX @ 97.04,
XLF @24.03, , DPZ @ 111.14, MTH @ 46.05, AMZN @414.55, REGN @ 521, FEYE @ 46.53, UA @ 83.65
[su_heading style=”modern-1-dark” size=”18″] Working Buy Orders [/su_heading]
We are comfortable with our current exposure so there are no new buy orders today
