• Market Insight

FLS Pre-Market Update: Dovish Fed Lifts Stocks… 05/24/2018

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Market Update: Dovish Fed Lifts Stocks
At this point, it should be obvious that the market leads the Fed, not the other way around. Yesterday, the market was on track to fall and fall hard, then the Fed showed up and said it is willing to let inflation run above 2% for a while— Translation — easy money is here to stay. 
 
That was more than enough to erase the loss and send the market higher. Remember, it’s not the news that matters, it’s how the market reacts to the news. So far, the market continues acting very well as the major indices continue forming a bullish handle above their respective 50 DMA lines to consolidate the recent/strong rally off the 200 DMA line. As long as the 50 DMA line is defended the bulls remain in clear control. As always, I want to see where the market closes tomorrow then will have a full report for you this weekend. 
 
FLS Portfolio:
The FLS portfolio continues acting very well. Remember, I like to buy the bounce after the dip and that is exactly what have done in recent weeks. Thankfully, we handled the latest pullback with grace, we locked in profits in several of our stocks earlier in the year, managed to hold on to ADBE and ISRG during the entire pullback and then began adding risk again in recent weeks as the market rallied. For those of you who want to hedge: Ticker: HDGE is my favorite way to hedge your portfolio. Here is a snapshot of the FLS portfolio as of Wednesday’s close:

 

Positions:

A.    The service owns:  

ADBE +119.56%, ISRG +45.49%, SFLY +3.15%, 

QQQ +2.97%, NFLX +7.36%, SQ +9.96% 

B. The service will exit: 

ADBE @ 201.56, ISRG @ 379.77, SFLY @ 90.87,

QQQ @164.71, NFLX @ 321.09, SQ @ 50.10 

 



Working Orders:
There are no 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.

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Picture of Adam Sarhan

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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