[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading]
The major indices look toppy up here as more and more areas of the market begin to roll over. The Dow continues to under-perform with 23 (77%) of its components in poor technical shape and only 7 (23%) are in good shape. A full article on the Dow can be found here. Several big media stocks and many big institutional darlings were the latest ares of the market to roll over on Thursday. Stepping back it is impressive to see the major indices continue to trade only a few percentage points below their all-time highs even with all the damage that is occurring beneath the surface. Keep in mind, that is exactly what happens when big tops are put in place. We’ll see how he market reacts to the jobs report tomorrow and, as always, we’ll have a full report for you this this weekend.
[su_heading style=”modern-2-dark” size=”20″] Portfolio Update [/su_heading]
Thankfully, the FLS portfolio is performing well considering how the major indices have been acting in recent weeks. The service locked in a very nice +20.07% gain in TSLA today (thanks to our early entry). We are receiving quite a few emails from many members thanking us for keeping them out of harms way (not buying new stocks in recent weeks). Remember, knowing when not to buy is just as important as knowing when to buy in this business. Here is a snapshot as Thursday’s close:
[su_heading style=”modern-1-dark” size=”18″] Positions [/su_heading]
- The service owns: AMZN +20.61%, XLF +1.13%, REGN +11.80%, UA +12.75%
- The service will exit: AMZN @482, XLF @24.03, 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
