Housekeeping:
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Market Update:
Stocks are finally pulling back (if we can even call this a pullback)… And if this is the most the market can pull back after such a strong rally – that tells you everything you need to know. As we have been saying for the last few weeks, the market is extremely extended to the upside and a nice normal pull back would do wonders to restore the health of this very strong bull market. The bull market turns 8 this week, which is considered “old” by recent standards. That doesn’t mean this bull market can’t continue for the foreseeable future – it definitely can — all it means is that we want to keep that in the back of our mind as we move forward. The European Central Bank (ECB) meets on Thursday and that is the next big catalyst in front of us.
FLS Portfolio:
Thankfully, the FLS portfolio continues acting very well. The service will add more risk after the next pullback. Here is a snap shot of the portfolio as of this writing 3:07pm EST:
The service owns: ICE +2.10%, ADBE +8.25%, BABA +5.18%, HACK +0.49%, EBAY +2.01%
The service will exit: ICE @ 56.57, ADBE @ 111.09, BABA @ 97.9, HACK @ 28.38, EBAY @ 32.86
Working Orders:
| Status | Order | Ticker | Buy Stop | Protective Sell Stop | Risk From Entry |
| Open | Buy | HAS | 99.34 | 93.78 | -5.60% |
| Open | Buy | UAL | 76.66 | 73.66 | -3.91% |
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.
