• Market Insight

FLS Update: Melt-up Continues…For Now 01/04/2018

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Due To The Shortened Holiday Week,
This Will Be Our Only Intra-Week Update

Market Update: Melt-Up Continues…For Now

 
The market continues exceptionally strong as investors continue to buy stocks with two fists and concurrently shrug off all negative news. This is the definition of a “melt-up” and until we see any signs of weakness, the bulls remain in clear control of this very strong and very extended market. Remember, over-bought markets can easily get a lot more over-bought before they pullback. I just know that with everyday that passes, we are getting closer to the next big pullback/not further away from it. I want to see where the market closes tomorrow and will have a full report for you this weekend. 
 
 

FLS Portfolio:

 
2017 was a record year for the FLS portfolio as it vaulted ~60% and easily beat all of the major indices by a very nice margin. I tightened the stops in the portfolio last weekend and 2018 is off to a very nice start. The service added NVDA yesterday after patiently waiting to re-enter over the past few weeks. The stock gapped above our 200.4 buy stop so the buy stop became a market order and for tracking purposes was filled at 204.91.Thankfully, our patience has been rewarded- again.  Here is a snapshot of the portfolio as of Wednesday’s close:
 

Positions:

A.    The service owns:  ADBE +62.97%, CAT +46.74%, ISRG +21.74%, RMD +11.22%, MNST +12.63%, MELI +19.93%, BABA +3.56%, FB +2.01%, NVDA +3.69%

B. The service will exit:  ADBE @ 165.47, CAT @ 133.71, ISRG @ 359.64, RMD @ 81.37, MNST @ 60.04, MELI @ 310.94, BABA @164.15, FB @168.97, NVDA 201.57

 
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 50 Park Investments 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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