Market Update: Central Banks Save The Day – Again
The bulls remain in control after Janet Yellen did a 180 and adopted a more dovish (easy money) stance yesterday after the market sold off (just a little) since June 9th. Elsewhere, the ECB said that QE (printing money) will continue for “a few more years.” So the second the market looks a little “iffy” they all scramble back to a “dovish” stance. Honestly, don’t you just love these people. Stepping back, the market looks fine as big investors showed up and bought the latest dip. The Nasdaq and Nasdaq 100 are back above their respective 50 DMA lines which is a near term positive. WFC, C, and JPM report earnings tomorrow then we enter the thick of earnings season. As always, we want to see where the market closes tomorrow and will have a full report for you this weekend.
FLS Portfolio:
The FLS portfolio has done extremely well this year and we have earned the right to be patient as the market consolidates its very strong post-election rally. Here is a snap shot of the portfolio as of today’s close.
The service owns: ADBE +30.57%, BABA +52.73%, GLW +5.19%, COH +2.97%, CAT +1.20%
The service will exit: ADBE @ 131.17, BABA @ 133.07, GLW @ 29.30, COH @46.07, CAT @102.27
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.
