Note: I received quite a few heart warming testimonials from you recently (here are just a few highlights: one person used the profits from FLS to buy a new house last year, another person paid for his daughter’s college tuition, another said his trading life has changed -for the better because of the service and will never look back, another person works at a big firm and has been reading the service for 15 years and it has helped him stay focused). I want to take a minute this morning to thank each and every one of you for your continued support and feedback (Simply reply to this email if you want to share your story/send a testimonial). (Many of you want “more” & asked for private 1-on-1 coaching sessions, that will be rolled out soon). Those stories are extremely humbling, truly warm my heart and remind me of all the good that I can be a part of.
-Adam
Market Update:
As expected, the continued to rip higher over the past few days helping the Dow, S&P 500 jump above near-term resistance areas that I highlighted for you recently. The tech-heavy Nasdaq composite continues to lead the pack as it is the strongest on a year-to-date basis and about to hit new record highs. In the short term, the market is extended to the upside and due to pullback. At this point, it would be healthy to see a very light and quiet pullback as investors pause to digest this recent move. On the other hand, if we see another round of violent selling that will clearly change the dynamic. Near term support to watch is the 50 DMA line for the major indices and near-term resistance are the 2018 highs. Central banks are back in focus and here are two headlines courtesy of Bloomberg that you may find interesting:
Fed up
Federal Reserve Chairman Jerome Powell is due to testify before the House Financial Services Committee at 10:00 a.m. Eastern Time this morning, with the text of his testimony due for release at 8:30 a.m. Powell, in his first appearance in Congress since he took over as Fed Chair from Janet Yellen, is likely to say that the economy is stronger than expected, with fiscal stimulus working against attempts to use monetary policy to tap the brakes. It is unlikely that he will give many hints as to the pace of rate increases for this year, ahead of the FOMC update to its economic forecasts next month.
Goldilocks
Central banks are facing a new era of problems, according to Ray Dalio, the billionaire founder of the world’s biggest hedge fund. In an interview with Bloomberg Television in Beijing, he described the current situation where there is growth without inflation as the “Goldilocks part of the cycle” with challenges looming as monetary policy makers struggle to maintain balance between the two. Dalio is not alone in worrying about the future, with Germany’s Bundesbank this morning announcing it is increasing the amount of money it’s putting aside to cover any future losses when the ECB starts to raise interest rates.
FLS Portfolio:
We are comfortable with our current exposure and have navigated this little melt-down with grace. The service added: V, BLK, and FAST yesterday and here is a snapshot of Monday’s close:
Positions:
The service owns:
ADBE +90.96%,CAT +52.69%, ISRG +36.97%,
RMD +24.07%, MELI +42.98%,
BLK +1.40%, V +0.84%, FAST +0.16%
The service will exit:
ADBE @ 165.47, CAT @ 133.71, ISRG @ 359.64,
RMD @ 87.07, MELI @ 310.94,
BLK @ 538.41, V @ 119.46, FAST @ 53.86
Working Orders:
| Order | Symbol | Buy Stop | Sell Stop | % Change |
| BUY | TWTR | 34.48 | 31.53 | -8.56% |
| BUY | MNST | 66.53 | 64.22 | -3.47% |
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.
