• Market Insight

FLS Playbook Update: Update & Our Conviction Leader’s List 09.03.15

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

The market continues to go nowhere fast as it pauses to digest last week’s manic sell-off and violent recovery. We have the always-fun jobs report tomorrow which will be the last “big” piece of economic data ahead of the Fed’s next meeting in the middle of Sept. In the short term, the market remains “oversold” and extended to the downside. The inability for the market to rally is not a healthy sign. Intermediate and longer term the market continues to get weaker, not stronger. We want to see the S&P 500 trade back above 2040 before the damage can begin to be repaired. Until then, we have to expect this  sloppy/sideways to lower action to continue! Here are the next important levels we are watching: 
Support is last week’s low (S&P 500 1867) and resistance is last week’s high (S&P 500 1993). As always, we want to see where the market closes this weekend and will have a full report for you this weekend… 
 
Investing Is A Marathon, Not A Sprint
Time is on your side. Remember, investing is a marathon not a sprint. There are times to be long. Times to be short. And times to exercise patience. The market isn’t going anywhere. Patience and defense are king right now.

[su_heading style=”modern-2-dark” size=”20″] Portfolio: Positions & Working Orders [/su_heading]

The FLS Portfolio has handled this correction very well and is 100% in cash. We do not have any new working orders right now.

[su_heading style=”modern-1-dark” size=”18″] Sarhan’s Conviction Leaders List [/su_heading]

For those of you who want more “Action” – our institutional advisory service produced this list of 50 strong stocks that are on our radar right now (Just in case, the market decides to alleviate some of its oversold condition and bounce back into its 50 DMA line). 
 
  1. INCY
  2. HRTX
  3. SRPT
  4. LXRX
  5. MDCO (EXTENDED)
  6. JBLU
  7. ALK
  8. DAL
  9. EXPD
  10. BLDR
  11. DXCM
  12. POST
  13. TMUS
  14. VMC
  15. ATVI
  16. COMM
  17. EXPR
  18. SABR
  19. PDCE
  20. TSS
  21. STZ
  22. VNTV
  23. RAI
  24. LMT
  25. CVC
  26. FL
  27. TWC
  28. BWXT
  29. BIG
  30. CCE
  31. CUBE
  32. FB
  33. EBAY
  34. NVDA
  35. AAP
  36. AMZN
  37. GOOGL
  38. CMG
  39. ORLY
  40. UA
  41. SBUX
  42. SKX
  43. HD
  44. TJX
  45. WTM
  46. COKE
  47. RYAAY
  48. MNST
  49. UHAL
  50. EQIX

 

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Adam Sarhan

Host Of The #SmartMoneyCircle Podcast, Founder and CEO of 50 Park Investments. Adam provides weekly market updates to ChartYourTrade.com readers. He is a FORBES Contributor and is a frequent guest on all the major financial media outlets.

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