Reminder:
This will be our only intra-week update this week
Market Update: Fed Day
The market fell hard on Monday after FB gapped down on the data breach and the negative political headlines were announced from D.C. regarding President Trump’s tweets over the weekend regarding the ongoing investigation. Honestly, the fact that the market is not down a lot more is impressive and suggests we can easily push higher and hit new highs in the months ahead (if the market doesn’t implode). Clearly, there is a lot of technical damage occurring right now but we have seen this before and every other time the market has “rested” for a few months to consolidate a big run then it blasts off and takes off again. Eventually the market will top out and this long 9-year bull market will end but we need to see a lot more time and price before it does. For now, clearly the near-term action is sideways, choppy and very sloppy. So we will continue to exercise patience until the clouds clear and smother trends resume. The Fed meets later today and the market expects the Fed to raise rates by a quarter point. I’m not interested in what the Fed does, but instead how the market reacts to the news. As always, I want to see where the market closes on Friday and will have a full report for you this weekend.
FLS Portfolio:
The service sold FB and TWTR on Monday and Tuesday after the data breach debacle. The “good” news is that even though FB is down double digits, because of our early entry, the service took a single digit loss. Such is life on Wall Street, it’s never fun to get stopped out but your first loss is always your best loss (especially if it is a relatively small loss). Here is a snapshot of the FLS portfolio as of Tuesday’s close:
Positions:
The service owns:
ADBE +106.81%,CAT +43.74%, ISRG +36.45%,
RMD +26.36%, MELI +32.85%,
BABA +0.44%
The service will exit:
ADBE @ 179.23, CAT @ 142.77, ISRG @ 379.77,
RMD @ 87.57, MELI @ 319.77,
BABA @182.97
Working Orders:
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.
