Market Update: North Korea Flexes Its Muscles
After Monday’s close, North Korea decided to fire a missile over Japan. Interestingly, around 8pm EST last night not one of the major U.S. news networks covered it. Bloomberg briefly mentioned it but it was in passing closer to the Asian open and that was it. Meanwhile, Japan’s Nikkei only fell 87 points and at one point was down triple digits. I’m not sure why this threat isn’t more serious but for now it appears to be just another down day for the market. If the U.S. market follows Japan, we will likely open lower than spend the day edging higher. Even South Korea’s Kospi index only fell by 5 points or 0.23%. That feels a little too complacent. Now, we have to see how the Western World responds. Until the market sells off in a more serious fashion, we have to expect this sloppy sideways action to continue. As mentioned in our weekend report, last Monday’s low is important near-term support. If that level is breached, the S&P 500 and Nasdaq will likely test their longer term 200 DMA lines. Conversely, the bulls want to see the major indices back above their 50 DMA lines.
FLS Portfolio:
The FLS portfolio continues acting well. Here is a snapshot of the portfolio as of Monday’s close:
Portfolio Update:
The service owns: ADBE +36.64%, BABA +71.91%, CAT +7.36%, AAPL +1.35%, ISRG +4.24%
The service will exit: ADBE @ 138.17, BABA @ 147.47, CAT @ 107.18, AAPL @ 151.77, ISRG @945.85
Working Orders:
| Order | Symbol | Buy Stop | Sell Stop | % Change |
| Buy | NFLX | 172.55 | 165.62 | -4.02% |
| Buy | AMZN | 996.38 | 954.56 | -4.20% |
| Buy | NVDA | 167.38 | 157.27 | -6.04% |
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.
