Market Update:
The market continues pausing to digest last week’s very strong election rally. It’s perfectly normal to see the market pause a little to catch its breath. Under the surface leadership continues to change. First it was the Nasdaq and tech stocks that were leading but post election, The Nasdaq has lagged while the Russell 2000, Dow and S&P 500 names are kicking into gear.
A Note on Leadership In 2016
I also want to note that leadership this year has come from beaten down areas that were left for dead. It started in Jan/Feb with the Gold/Silver stocks. Then, steel stocks kicked into gear, and now the shipping stocks are soaring! We’ll see how this develops. For now, the areas that exploded higher last week should be accumulated on a nice orderly pullback. We don’t want to force anything and have done well being patient in this very odd environment. Remember, most active managers are still getting crushed so patience is key until cleaner trends emerge.
FLS Portfolio:
MU was added to the portfolio yesterday. Here’s a snapshot of the FLS portfolio as of this writing (12:37pm EST),
A. The service owns: SMH +17.12%, MU -0.17%
B. The service will exit: SMH @ 65.96, MU @ 16.95
B. The service will exit: SMH @ 65.96, MU @ 16.95
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 Sarhan Capital is strictly prohibited.
