Market Update:
The market continues acting very well as the major indices remain perched just below record highs. The Nasdaq 100 hit a fresh record high earlier today and the fact that the market refuses to fall – illustrates how strong the bulls are right now. So far, nearly all the major economic data continues to “miss” estimates so how people think the Fed will raise rates when they meet next week is beyond me. Until we see any serious signs of selling, the bulls remain in clear control. We are seeing strong sector rotation continuing beneath the surface. We like the action in the transportation stocks (IYT), Biotechs and some housing stocks. Due to the shortened holiday week, this will be our only intra-week update. We want to see where the market closes on Friday and will have a full report for you this weekend. Remember, we are in a bull market and weakness should be bought, not sold.
FLS Portfolio:
The portfolio added AMT yesterday and thankfully, the FLS portfolio continues acting very well. As of this writing (3:15pm EST):
A. The service owns: QQQ +6.27%, SMH +13.08%, XLF +3.11% BLK +1.09%, AMT +0.39%
B. The service will exit: QQQ @ 110.85, SMH @ 58.65, XLF @ 22.37, BLK @ 352.79, AMT @ 112.19
Working Orders:
There are no new 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.
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.
