Market Update: Earnings Galore
The market remains exceptionally strong and continues to dismiss nearly every negative headline out there. We are entering the heart of earnings season and will be very interesting to see how the market reacts over the next few weeks. In the short-term the market is very extended to the upside and we have to expect a little short-term pullback in near future. The Dow broke above 23k this morning and is now over 700 points above its 50 DMA line. That’s extended, if you ask me. I would love to see a near term pullback. But the market doesn’t care about me.
FLS Portfolio:
The FLS portfolio is continues acting well. The protective stops were moved up in the weekend report to protect our gains. Here is a snapshot of the portfolio as of this writing 1:27pm EST:
Positions:
The service owns:
ADBE +35.12%, BABA +80.76%, CAT +21.82%, ISRG +12.72%, NFLX +15.54%, NVDA +18.02%, RMD +0.64%, MNST +0.50%
The service will exit:
ADBE @ 143.74, BABA @ 166.67, CAT @ 120.07, ISRG @337.27, NFLX @179.27, NVDA @172.67, RMD @ 75.17, MNST @54.13
Working Orders:
No new working orders
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.
