FLS – Time For An Oversold Bounce… 06/16/2016

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Market Update:
The market is doing its best to bounce from oversold levels. The action remains sloppy and there just remains a dearth of quality leadership. In normal times, today’s reversal should mark a near term low, especially because we are entering end of month and end of quarter  (upward bias). Of course, this time could be different but when you have a chance take a look at May 19’s action and what happened in the weeks that followed.  We want to see where the market closes tomorrow and will have a full report for you this weekend. 
 
FLS Portfolio:
The service raised its stops last weekend and has covered all open positions this week for breakeven or a marginal gain/loss. In this sloppy and choppy market- not losing money is a net positive because it allows us to be ready when a new trend finally emerges (up or down). Remember, markets do not move sideways forever. Eventually, the major indices will breakout or break down below this range. When they do, we will be ready. 
 
 
 

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 Sarhan Capital is strictly prohibited.

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