Market Update: Earnings Season Front & Center
Stocks remain exceptionally strong. The Fed was a snooze-fest yesterday and didn’t say anything major to move equity prices. The greenback fell after the meeting and has been falling hard in recent months. The big news remains earnings. So far, the reaction to earnings remains strong which is all that matters from our point of view. Even the big banks, who all (except MS) fell on earnings, are now mostly higher. Which is a healthy sign for this ongoing bull market. As always, we want to see where the market closes tomorrow and will have a full report for you this weekend.
FLS Portfolio:
The FLS portfolio continues to do very well. GLW is down 5% after reporting earnings in the pre-market which is fine because we raised our protective exit to breakeven and we had enough of a cushion that we are still profitable. FB is up big in the premarket which bodes well for AMZN. AMZN reports after the bell today. Here is a snap shot of the portfolio before Thursday’s open:
Portfolio Update:
The service owns: ADBE +34.57%, BABA +59.13%, GLW +3.82%, COH +3.95%, CAT +5.92%, AMZN +4.38%
The service will exit: ADBE @ 131.17, BABA @ 133.07, GLW @ 29.30, COH @46.07, CAT @102.27, AMZN @ 979.57
Working Orders:
We are happy with our current exposure and will look to buy the strongest names as they emerge from earnings season. There are no new working orders today
Disclaimer:
This analysis contains information from resources believed to be reliable but are not guaranteed as to accuracy or wholeness as of the date of this publication. Past performance is not necessarily indicative of future results. There is always a risk of loss in trading and investing. Opinions articulated are subject to change without notice. This analysis and any opinions expressed are intended for educational purposes only and should NOT BE interpreted as a call for engagement in any transaction involving the purchase or sale of any security or investment product or service. The risk of loss in investing and or trading can be substantial, and traders/investors should carefully consider the inherent risks of such an investment in light of their financial condition. The author, firm, associates, or the firm’s clients may have a position in any of the investments mentioned and their positions are subject to change without notice. Any reproduction or retransmission of any portion of this report without the express written consent of 50 Park Investments is strictly prohibited.
