Travel Plans: Adam will be in NYC for the remainder of the week. Therefore, barring a big sell-off, this will be the only intra-week update.
Market Update: Pullback Continues…
The major indices continue to pullback as the market digests its recent and strong rally. Remember, what I have been saying for the past few weeks, the market is extended to the upside and way overdue to pullback (that’s why there haven’t been a lot of new orders). Put simply, it would be very healthy for more time to pass as this pullback runs its course.
FLS Portfolio:
The FLS portfolio continues acting well. Currently, the service is sitting on lofty gains and the protective stops were recently moved up to protect our positions. Patience is king right now as we wait for healthy risk/reward trades to emerge. Here is a snapshot of the portfolio as of Tuesday’s close:
Positions:
The service owns:
ADBE +63.22%, BABA +85.69%, CAT +28.33%, ISRG +24.01%, NFLX +13.42%, NVDA +27.96%, RMD +8.39%, MNST +11.76%
The service will exit: ADBE @ 147.94, BABA @ 166.67, CAT @ 120.07, ISRG @337.27, NFLX @179.27, NVDA @187.62, RMD @ 77.70, MNST @56.04
Working Orders:
There are no new orders today. 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.
