Market Update:
So far, socks are relatively quiet today which is somewhat normal on the last trading day of the month and quarter. This was a historic quarter by any normal measure. The major indices had the worst start ever to a year, then stocks reversed on Feb 11th and the Dow had the largest positive reversal since 1933! Other markets also experienced HUGE volatility (large swings both up and down) which has caused large losses for most active portfolio managers. Thankfully, we have remained very conservative this quarter and have largely sidestepped all the volatility and damage experienced by many other people over the past few months. We are very well positioned to capture big moves in the months ahead. Thankfully, we have received quite a bit of positive feedback from many of you considering how others have fared. (If you want help managing your portfolio please contact us here). Patience on Wall Street is often rewarded.
Even with all the volatility in 2016, gold shined and enjoyed its best quarter in close to 30 years! So far, there still remains a very strong underlying bid in the market which has helped stocks soar this month. Until that changes, the market deserves the bullish benefit of the doubt. Tomorrow is the jobs report and then we will have a full report for you this weekend. I attached a few charts for your review. I would like to thank my friend, Phil Davis, for the Central Bank Chart- It perfectly sums up this quarter!
FLS Portfolio
We recently raised our protective stop and are comfortable with our exposure.
As of this writing, 1:58 pm EST,
A. The service owns: QQQ +9.74%
B. The service will exit: QQQ @ 105.74
B. The service will exit: QQQ @ 105.74
Working Orders:
There are no new working orders today
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
