Market Update:
After a nice two week rally, the market tried pulling back yesterday and today but the buy the dip crowd showed up and bid stocks higher. The S&P 500, Nasdaq and Russell are now positive for the week which is a near term positive. Earlier today, the financials were selling off but the bulls showed up and defended this very important group. The semiconductors are acting very well which is another positive for the market. We also like the action in the housing stocks (XHB), the biotechs (IBB) and health care stocks (XLV). The next big level to watch is 2,1111 in the S&P 500 and then the much more important record high of 2,134. Tomorrow is ADP and then the always fun Jobs report on Friday. In the near term, barring some more selling, the market looks like it wants to rally from here
FLS Portfolio
The service bought EA earlier today and is now long EA, SPY and AMZN. FLS has slowly been adding more risk as the market improves. As of this writing, (3:32pm EST),
A. The service owns: AMZN +5.01%, SPY +1.59%, & EA -0.45%
B. The service will exit: AMZN @ 685.70, SPY @ 201.07, EA @ 74.17
B. The service will exit: AMZN @ 685.70, SPY @ 201.07, EA @ 74.17
Working Orders:
| Status | Order | Ticker | Buy Stop | Protective Sell Stop | Risk From Entry |
| Open | Buy | LEN | 46.42 | 44.77 | -3.55% |
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.
