Market Update: Healthy Action
The market continues acting very well. Yesterday, tech-stocks led the way higher as several high profile names hit new record highs: AAPL, NFLX, NVDA, SQ, ISRG, & ADBE, just to name a few. In the short-term, the market is a little extended as it enjoyed a big rally over the past few weeks and I would like to see it pullback a little to digest the recent move. If it doesn’t, so be it. Futures are quiet this morning as the market continues to flirt with new highs and pauses to digest its recent rally.
The Nasdaq and the Russell 2000 are clearly leading their peers as the S&P 500 and Dow are lagging. That’s perfectly normal because as the former rest, it will give the latter a chance to rally. That is the healthy bullish mini-rotation I have pointed out for you time and time again in the market over the last several years.
FLS Portfolio:
The FLS portfolio added ANET yesterday and continues acting very well. Remember, I like to buy the bounce after the dip and that is exactly what have done in recent weeks. Thankfully, we handled the latest pullback with grace, we locked in profits in several of our stocks earlier in the year, managed to hold on to ADBE and ISRG during the entire pullback and then began adding risk again in recent weeks as the market rallied. For those of you who want to hedge: Ticker: HDGE is my favorite way to hedge your portfolio. Here is a snapshot of the FLS portfolio as of Monday’s close:
Positions:
- The service owns:
ADBE +128.05%, ISRG +51.59%, SFLY +5.01%,
QQQ +5.82%, NFLX +12.68%, SQ +22.16%, ANET +1.97%
- The service will exit:
ADBE @ 201.56, ISRG @ 379.77, SFLY @ 90.87,
QQQ @164.71, NFLX @ 321.09, SQ @ 50.10, ANET @247.77
Working Orders:
| Order | Symbol | Buy Stop | Sell Stop | % Change |
| Open | EL | 151.81 | 145.46 | -4.18% |
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.
