[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading]
We began Tuesday’s update by saying, “The market is weak. The fact that it is barely bouncing even after last week’s shellacking shows us the sellers still have the upper hand.” And we ended it by saying, “So far, we want to express a cautious stance and as we have been saying for weeks, “caution is king right now.” Nothing has changed. Stocks rallied on Wednesday but fell hard on Thursday. Overall caution is still king. We want to see where stocks close tomorrow and will have a full report for you this weekend. We are cognizant of the fact that we are approaching the end of the month, quarter and year and we may see a little Santa rally. Until it happens, defense is king as leadership remains VERY narrow.
[su_heading style=”modern-2-dark” size=”20″] Portfolio Update [/su_heading]
FLS is happy with its current exposure and is ready to buy if stocks rally from here. If not, the stops are in and the service will be out and very comfortable having enjoyed another solid year. As always, we’ll let the market guide us. As of this writing (3:51pm EST).
[su_heading style=”modern-1-dark” size=”18″] Positions [/su_heading]
A. The service owns: AMZN +25.30%, MSFT +1.72%
B. The service will exit: AMZN @ 620.31, MSFT @ 52.47
[su_heading style=”modern-1-dark” size=”18″] Working Buy Orders [/su_heading]
[su_table]
| Status | Order | Ticker | Buy Stop | Protective Sell Stop | Risk from Entry |
| Open | Buy | FB | 107.98 | 98.62 | -8.67% |
| Open | Buy | SPY | 211.72 | 201.93 | -4.62% |
| Open | Buy | AAPL | 119.93 | 114.12 | -4.84% |
[/su_table]
