Market Update: Market Trivia
The market remains very strong as it simply refuses to fall in any meaningful fashion. Yesterday, the Dow was down 54 points and today futures are up 58. Until any meaningful selling shows up, the bulls remain in clear control of this market. 1/3 of the companies in the S&P 500 are reporting this week so clearly all eyes are on earnings.
Market Trivia:
At 4pm EST yesterday, Bloomberg sent this note -which I’m sure you’ll find interesting: “Devotees of market trivia will be interested to hear that today’s “collapse” in the S&P 500 was the largest decline since September 5th, when the index dropped 0.76%. The settles are still hitting the tape but for now it seems as if the day’s loss has come in a smidge under 0.40%. That marks the 34th consecutive session without a loss of 0.40% or more (unrounded)…the longest such streak since 1965. Of course, with today’s close the SPX has set a new record for the longest streak without a 3% drawdown from all time highs…“
FLS Portfolio:
The FLS portfolio continues acting well. The protective stops were moved up recently and we are waiting for new healthy risk/reward trades to emerge before adding more risk. Here is a snapshot of the portfolio before Monday’s close:
Positions:
The service owns:
ADBE +54.97%, BABA +76.84%, CAT +22.86%, ISRG +18.47%, NFLX +11.54%, NVDA +17.47%, RMD +2.73%, MNST +0.57%
The service will exit: ADBE @ 147.94, BABA @ 166.67, CAT @ 120.07, ISRG @337.27, NFLX @179.27, NVDA @172.67, RMD @ 77.70, MNST @54.13
Working Orders:
No new working orders today
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.
