Market Update: Stocks Are Pulling Back
The market rallied nicely on Monday as investors breathed a collective sigh of relief that nuclear tensions eased with North Korea. Today, a slew of retail stocks are down big after reporting earnings (HD, COH, and DKS, just to name a few) and that is dragging the market lower. Stepping back, the market remains wobbly at best and we are still in pullback mode. The big level of support to watch is last week’s low for the major indices. If that level is breached, we have to expect the major indices to pull back into their 200 DMA lines. The Russell 2000 and Dow Transports are weaker on a relative basis and are just above their respective 200 DMA lines.
FLS Portfolio:
The FLS portfolio continues acting well. The service added ISRG yesterday when it gapped up above our buy stop. The action has been picture perfect since then and is a good example of why we enter and exit using stop orders. Here is a snapshot of the portfolio as of this writing (1:45pm EST):
Portfolio Update:
The service owns: ADBE +34.99%, BABA +60.01%, CAT +6.04%, AAPL +1.49%, TSLA +1.67%, ISRG +3.88%
The service will exit: ADBE @ 131.17, BABA @ 137.52, CAT @107.18, AAPL @ 151.77, TSLA @342.74, ISRG 920.77
Working Orders:
| Order | Symbol | Buy Stop | Sell Stop | % Change |
| Buy | NFLX | 185.07 | 174.07 | -5.94% |
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.
