• Market Insight

FLS – Pre-Market Working Orders Updated… 12/07/2017

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Market Update: Buy The Dip

 
The market is still in “pullback” mode which is perfectly normal after a very strong rally. Remember, it is year-end and it is perfectly normally to see some profit-taking after a huge rally. The service locked in some healthy gains over the past week and I’m sure lots of other people did the same thing. 
 
In the short-term, one or two good days could put this market back in play and the major averages could easily rip higher – again. Yesterday feels like a near term low. If yesterday’s lows hold, it will become a near term low. If the lows are breached, then odds favor, the pullback will last a little longer. A lot of big cap tech stocks bounced near their respective 50 DMA lines which is exactly where you want to see the bulls show up and defend support. I want to see where the market closes tomorrow- and will look to buy the bounce after this dip. Remember, one of the hallmarks of a strong market is to see it open lower and close higher. On a monthly chart, the major indices are “down” right now but I wouldn’t be surprised to see them finish “up.” Remember, December, is usually a strong month for stocks.  
 
 
FLS Portfolio:

 
The FLS portfolio is continues acting well. On Monday, the service sold NFLX and NVDA for a gain of +5.81% and +12.09%, respectively. On Tuesday, the service locked in a 70.25% gain in BABA and will look to buy it back if it starts to rally again. Currently, the service is sitting on lofty gains and the protective stops were recently moved up over the weekend to protect our positions. Here is a snapshot of the portfolio as of Wednesday’s close:
 

Positions:

The service owns:  ADBE +56.20%, CAT +30.94%, ISRG +20.22%, RMD +9.63%, MNST +12.90%, MELI -0.85%

The service will exit: ADBE @ 164.32, CAT @ 133.57, ISRG @ 349.57, RMD @ 81.37, MNST @ 56.04, MELI @ 257.96

Working Orders:
 
Order Symbol Buy Stop Sell Stop % Change
BUY TSLA 320.1 304.65 -4.83%
BUY NVDA 200.4 190.97 -4.71%
BUY BABA 177.68 164.15 -7.61%
 
 
 
 
 
 
 

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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