Market Update:
Earlier today, the ECB announced more easy money – by extended QE until December 2017 (initially was going to end in March 2017). Draghi held rates steady and extended QE until December 2017. Currently, the ECB is buying 80 billion euros a month and that will drop down to 60 billion starting in April 2017. The market remains very strong and soared yesterday 300 points. Did someone leak the info? We’ll let you decide. The same thing happened before OPEC where crude oil surged 7% BEFORE the news was announced that OPEC would cut rates. All we know and care about is: what is actually happening, not why something might be happening. The market remains very strong and VERY extended by any normal measure. Financials, transports, steel, industrials, materials, and other areas (that have been working). We want to see where the market closes tomorrow and will have a full report for you this weekend.
FLS Portfolio:
Thankfully, the FLS portfolio is acting well. as of this writing, 3:45pm EST
- The service owns:SMH +22.76%, MU +15.27%, CME +5.89%, RS +2.45%
B. The service will exit: SMH @ 67.37, MU 18.16, CME 111.82 RS @ 82.79
Working Orders:
There are no new 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.
