FLS: All Eyes On The Fed… 06/14/2016

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Market Update:
What a difference a few bad days make in the market. Sellers showed up last Friday and we have seen a lot of technical damage emerge as government bond yields continue to plunge. In the short-term the market went from being over bought to oversold and could easily bounce here. But big picture, this is turning into a bad episode of the twilight zone – Once again, markets around the world are waiting for the Fed. Yellen and company will end their two-day meeting tomorrow at 2pm EST and then Yellen will hold a press conference at 2:30pm EST. We do not like the action in the market as more and more groups are rolling over. We do have to say that every time the market sells off (since Feb) the bullish pixie dust shows up and the market ramps higher. We’ll see if this time is different. For now, the action is not healthy and caution is king until the bulls show up.
 

FLS Portfolio
Thankfully, the service raised its stops over the weekend and was stopped out of most of its positions for breakeven, or a small loss, as the market pulled back this week. We want to see how the market reacts to the Fed meeting tomorrow and will look to add risk later in the week, if needed. As of this writing (3:06pm EST) the service owns:

 
A. The service owns: AMZN +4.46% 
B. The service will exit: AMZN @ 710.77
 
 
Working Orders:
There are no new 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 Sarhan Capital is strictly prohibited.

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