[su_heading style=”modern-2-dark” size=”20″] Housekeeping [/su_heading]
Due to the shortened holiday week, this will be our only intra-week update (unless market conditions worsen significantly).
[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading]
In a normal (non EASY MONEY addicted environment), we would say the sloppy action we are seeing up here is not healthy and typically will lead to lower prices. The market remains very split with some areas lagging badly (e.g. transports) and some that remain very strong (namely biotechs and tech/semiconductor stocks). The major indices sold off on heavy volume yesterday then “POOF” bounce back today as if yesterday didn’t happen. We have seen this dynamic unfold several times in recent months and that’s why we remain bullish/cautiously optimistic until we see any meaningful damage occur in the major indices. The market continues to focus on the EASY MONEY from the Fed and other central banks and so far everything else (even the weak action we are seeing in several areas underneath the hood) continues to take a back seat. A few months ago, David Tepper, a very well known hedge fund manager, said he believes the market could enter a climatic phase similar to 1999/early 2000 where leadership narrows considerably and the market shoots higher. That is definitely a possibility.
[su_heading style=”modern-2-dark” size=”20″] Portfolio Update [/su_heading]
Thankfully, the FLS portfolio continues acting well. The service sold MTH & GDX for a small -1.26% and -5.3% loss, respectively.
Here is a snapshot of the portfolio as of 2:12 pm EST:
[su_heading style=”modern-1-dark” size=”18″] Positions [/su_heading]
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The service owns: TSLA +20.69%, AAPL +1.48%, NFLX +8.09%,
REGN +5.23%, SWKS +8.44%, XLF -0.12%,, HACK -0.66% -
The service will exit: TSLA @ 234.87, AAPL @ 128.26, NFLX @ 576.13,
REGN @ 486.10, SWKS @ 99.57, XLF @24.03, HACK @ 28.69
[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 |
| Working | Working | AMZN | 439 | 414.55 | -5.57% |
[/su_table]
