Market Update: Fed & Earning
The market pulled back on Monday after Mueller indicted Paul Manafort and his right-hand man. Looking forward, the Fed meets again this week and a slew of earnings continue to be released. No one is expecting the Fed to do anything until December and earnings continue to be hit or miss (some stocks gapping up and some gapping down). Stepping back, the market remains very strong and deserves the bullish benefit of the doubt until we see any significant selling show up.
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 as of Mon’s close:
Positions:
The service owns:
ADBE +58.46%, BABA +85.47%, CAT +27.35%, ISRG +19.29%, NFLX +14.96%, NVDA +21.78%, RMD +6.81%, MNST +1.41%
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:
There are no new orders today. We are entering the heart of earnings season and are sitting on sizable gains across the board. We will look to add risk in the near future.
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.
