[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading]
The major indices are bouncing from oversold and logical levels of support (200 DMA line in the S&P 500 & Russell 2000, and 50 DMA line in the Nasdaq 100). The market remains range-bound and the tape remains very split. Today we are seeing a lot of beaten down areas – transports, energy, utilities etc – bounce from deeply oversold levels. Earnings continue be released in droves so we have to be patient as the market digests the latest round of earnings data. Until either support or resistance is breached -we have to expect this sloppy sideways action to continue. Separately the Fed ends its latest 2-day meeting tomorrow and we’ll see what they say and more importantly – how the market reacts to the news.
[su_heading style=”modern-2-dark” size=”20″] Portfolio Update [/su_heading]
Thankfully, the FLS portfolio is performing very well considering how the major indices have been acting in recent weeks. The service sold NFLX yesterday for a very nice +30.70% gain in 9 weeks. Here is a snapshot as of 3:37pm EST:
[su_heading style=”modern-1-dark” size=”18″] Positions [/su_heading]
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The service owns: TSLA +28.79%, XLF +0.80%, AMZN +20.01%, REGN +5.88%, UA +11.99%
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The service will exit: TSLA @ 245.77, XLF @24.03, AMZN @482, REGN @ 521, UA @ 92.77
[su_heading style=”modern-1-dark” size=”18″] Working Buy Orders [/su_heading]
We are comfortable with our current exposure so there are no new buy orders today
