Market Update:
So far the action remains healthy as the major indices simply pause to digest the recent (and robust) post-election rally. The Dow continued to trade just below 20,000 which is normal at this point. Economic data was mixed. Initial jobless claims rose to 275,000 last week, missing estimates for 256,000. Separately, durable goods for November slid by -4.6%, which estimates for -4%. On the positive side, the final read for Q3 GDP was +3.5%, beating the Street’s estimate for +3.2%. Expectations for Q4 GDP were lowered to 2.5%. Earnings data was light but Micron (MU), and FLS stock, gapped up while Red Hat (RHT) gapped down after releasing earnings. This is the last full trading week of the year and typically, the last week of the year has a strong upward bias.
FLS Portfolio:
Thankfully, the FLS portfolio is acting very well. As of this writing, 3:11 pm EST,
- The service owns:SMH +23.87%, MU +29.26%, CME +4.64%
B. The service will exit: SMH @ 67.37, MU 18.16, CME 117.08
Working Orders:
| Status | Order | Ticker | Buy Stop | Protective Sell Stop | Risk From Entry |
| Open | Buy | AMZN | 792.4 | 757.2 | -4.44% |
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.
