Market Update:
Just a quick pre-market update because the market will be closed tomorrow. The market is echoing what we have told you over the past few weeks that defense is king. Clearly, the pullback continues as geopolitical woes remain elevated and we head into earnings season. The Russell was the first index that broke the 50 DMA line and has “lived” below it for the past few weeks. The Dow & S&P 500 both closed below it yesterday which is not the end of the world – if it can close above it today or early next week. If not, we have to expect more downside pressure to follow. Finally, the Nasdaq is still above the 50 DMA line but more and more weakness is showing up beneath the surface. Defense is king as we wait for the “bounce” following this dip- if it bounces. Alternatively, if we see more “weakness” then we have to expect lower prices to follow. Watch gold and silver as a new emerging area. We have mentioned it over the past few weeks and now big money is beginning to flow into this area of the market. As always, we want to see where the market closes today and will have a full report for you this weekend.
FLS Portfolio:
Thankfully, the FLS portfolio continues acting well. The service raised its stops again in recent weeks as the major indices remain somewhat choppy. Here is a snap shot of the portfolio as of Wed’s close:
The service owns: ICE +3.94%, ADBE +16.46%, BABA +13.00%, SPY -1.09%
The service will exit: ICE @58.75, ADBE @ 119.57, BABA @ 103.36, SPY @ 231.47
Working Orders:
| Status | Order | Ticker | Buy Stop | Protective Sell Stop | Risk From Entry |
| Open | Buy | GDXJ | 38.58 | 37.71 | -2.26% |
| Open | Buy | FDX | 199.27 | 192.11 | -3.59% |
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 50 Park Investments is strictly prohibited.
