• Market Insight

FLS Update: Market Extended… 07/14/2016

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Market Update: 
 
Stocks are very strong and the fact that they gapped up this morning even though the bank of England did not cut rates illustrates how strong they are right now. We can go on and on but rest assured we are in the early stages of a new uptrend and weakness should be bought as long as the major indices stay above their respective 50 DMA lines. We would be remiss not to note that, in the short term, the market is VERY extended up here and is way over due to pullback. We want to see where the market closes tomorrow and will have a full report for you this weekend. 
 
FLS Portfolio:
Thankfully, the FLS portfolio continues acting very well and bought XLF this morning as it gapped above our entry price. Remember, when that happens the stop order becomes a market order and we are filled at the market. As of this writing, 3:50pm EST,
 
A. The service owns: QQQ +1.08%, SMH +2.15%, FCX +7.89%, XLF -0.97%
B. The service will exit: QQQ @ 106.74, SMH @ 55.79, FCX @ 11.21, XLF @ 22.37
 
 
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.

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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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