Market Update: Earnings In Focus
Once again, the major indices are nicely above their respective 50 DMA lines. That doesn’t mean they can’t continue to rally- just that odds favor a near term pullback may occur to digest the recent run. The fact that we are entering the heart of earnings season (next few weeks) could trigger that pullback. For now, the market continues acting well and I don’t have any complaints. Separately, Fed Chairman Jay Powell will be on Capitol Hill and if he goes off the reservation that may move markets but that is highly unlikely.
FLS Portfolio:
The FLS portfolio continues acting well. Netflix gapped down after reporting earnings yesterday which is not fun. Thankfully, we had a very nice profitable cushion so we will likely give back profits and be stopped out today. We are perfectly ok with that because it beats the alternative. Here is a snapshot as of Monday’s close:
Positions:
- The service owns:
ADBE +129.26%, ISRG +64.32%,
QQQ +8.79%, NFLX +24.73%, SQ +33.63%,
AAPL +0.84%
- The service will exit:
ADBE @ 207.12, ISRG @ 393.47,
QQQ @164.71, NFLX @ 344.17, SQ @ 53.56, AAPL 183.32
Working Order
| Order | Symbol | Buy Stop | Sell Stop | % Change |
| Open | DBX | 33.83 | 31.07 | -8.16% |
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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