• Market Insight

FLS Pre-Market Update: Stocks Try To Bounce Ahead of Earnings Season… 04/10/2018

Facebook
Twitter
LinkedIn

Market Update: Stocks Try To Bounce

Yesterday’s action as not the best. The market was up nicely and then gave back nearly all of its gains in the afternoon after news spread that the FBI raided the office of one of the President’s lawyers. Since the election, the market has ignored all of these crazy political headlines but the concern is one day that may change. The good news is that all these headlines have little to no impact on the economy or earnings and that is what matters for Wall Street. 
 

Earnings Season:

Later this week, earnings season officially begins when we hear from the big banks. So far, even with all the crazy headlines from all over the world, the bulls are still able to defend important support (Feb’s low). As long as that level holds, that is good for the bulls. Conversely, if that level breaks, look out below. At this point, patience is needed until a new clean trend emerges. Here is an interesting read by FactSet about prior market corrections – read here. 
 

FLS Portfolio:

Thankfully, we held off from add new positions to the portfolio in recent weeks and, in the process, avoided a lot of losses as the market continues to frustrate both the bulls and the bears. After last year’s record gains for the FLS portfolio (up nearly +70% in 2017) we have earned the luxury of being patient. Also, our long standing readers, know that we play the intermediate/long-game and that approach has served us VERY WELL in multiple market cycles (both bull and bear markets). Here is a snapshot of the FLS portfolio as of Monday’s close:
 

Positions:

A. The service owns: 
ADBE +97.29%, ISRG +28.66%, 
MELI +24.81% 

B. The service will exit: 
ADBE @ 201.56, ISRG @ 379.77, 
MELI @ 319.77



Working Orders:

There are no new working orders today. If the market holds up, we will look to buy the strongest stocks that emerge out of earnings season. 
 
 

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.

Facebook
Twitter
LinkedIn

Here are more articles you may like
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.

Claim Your Free Guide Today

Give us your email and we will give you the tools to change your life. 

FREE 7 DAY EMAIL COURSE

Learn about Early Entry Points & much more...