Market Update: Bulls Are Still Fighting
Tuesday’s update said, “As long as the major indices stay above their respective 50 DMA lines, the bulls remain in control.” So far, that is exactly what is happening. The market refuses to fall in a meaningful fashion, big institutions defended support (so far), and money is rotating into undervalued areas. On Tuesday, I wrote this article for Forbes that big money is flowing back into biotech – read here. That is one example of where the big money is flowing. That rotation is somewhat constructive and is giving the market some room to breath. Next week is end of month/qtr so we wouldn’t be surprised to see a little bump to tie up the books. As always, we want to see where the market closes tomorrow and will have a full report for you this weekend. Here is a list of stocks setting up with early entries (and a few that broke out today):
Naz/Naz100/Big Cap Tech Setting Up – Again: PCLN, GOOG, V, MA, AAPL, NFLX, TSLA (BROKE OUT), TSRO, ILMN, PBYI, CACI, EQIX, JAZZ, PVH, LH, ORCL (GAP UP ON EARNINGS), EXPE, PANW, CWH, KMX, CP (NICE SETUP), HCA, COOL (MONSTER RUN)
FLS Portfolio:
The FLS portfolio continues acting well. ADBE and BABA are solid performers. Here is a snap shot of the portfolio as of this writing, 3:25pm EST:
The service owns:
ADBE +29.82%, BABA +45.80%, GLW +1.57%, COH +1.26%, AMZN +0.67%, CAT -3.03%, FB +0.82%, AAOI +0.70%
The service will exit: ADBE @ 130.67, BABA @ 113.97, GLW @ 27.64 COH @44.43, AMZN @948.44, CAT @100.94, FB @148.27, AAOI @59.97
Working Orders:
There are no new working orders today. We are comfortable with our current exposure.
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.
