FLS Playbook Update: Santa Visits Wall Street… Will He Stay?

[su_heading style=”modern-2-dark” size=”20″] Housekeeping [/su_heading]

[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading]

Historically, the so-called Santa Claus rally occurs in the last week of the year. Right on schedule, the bulls showed up and stocks are in rally-mode as we approach the end of month, quarter and year. The narrow leadership we have outlined for you in recent months continued working very well as investors continue to gobble up shares of: Amazon.com (AMZN), Alphabet (GOOG), Facebook (FB), Netflix (NFLX), Microsoft (MSFT), and a few other big glamour stocks. The major indices are doing their best to get and stay in positive territory for the year. I also want to note that it is somewhat encouraging to see the biotechs (IBB) breakout of low to mid-level resistance today. If the biotechs can catch a bid (move higher) that could help the major averages as we enter 2016. It is also somewhat healthy to see the beaten down areas of the market bounce from deeply oversold levels. Overall, the market is wayyyy overdue to fall but I have to respect the fact that it simply refuses to fall. Additionally, we are still in a bull market (an aging bull but bull nonetheless) and surprises in bull markets happen on the upside. We’ll keep that in mind as we enter 2016. We want to see where stocks close on Thursday and as always will have a full report for  you this weekend.

[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 Santa visits Wall Street. Otherwise, if the market falls from here we are out and comfortable. 

[su_heading style=”modern-1-dark” size=”18″] Positions [/su_heading]

A. The service owns:  AMZN +29.11%, MSFT +2.67%
B. The service will exit: AMZN @ 620.31, MSFT @ 52.47

[su_heading style=”modern-1-dark” size=”18″] Working Buy Orders [/su_heading]