Market Update: Stocks Are Strong
Every pullback we have seen over the past few years has been shallow in both size (small % decline) and scope (short in duration). That is a hallmark of a strong bull market. Yesterday’s sell-off was severe but thankfully our stops were in place and there was no need to panic. The bulls showed up today and defended major support for the S&P 500 (it’s 50 DMA line) and a slew of leading stocks. The Nasdaq is stronger on a relative basis and the Dow and Russell are weaker. If sellers show up tomorrow and the S&P 500 breaks support then that will change the conversation. That’s why it is important to see where the market closes tomorrow and, as always, we will have a full report for you this weekend. Finally, today’s action reiterates the importance of following our time-tested system. Following proven time-tested rules, and removing the emotion from the decision making process has served us extremely well over the years.
FLS Portfolio:
Thankfully, the FLS portfolio continues acting very well! The service was stopped out of the SPY position yesterday for a very small 2.18% loss. Ridding winners and occasionally taking mall losses, are the key to long-term success on Wall Street. Here is a snap shot of the portfolio as of this writing (2:34pm EST):
The service owns: ADBE +21.07%, BABA +23.39%, AAPL +5.58%, GLW -1.40%
The service will exit: ADBE @ 127.77, BABA @ 108.74, AAPL @ 143.04, GLW @ 27.64
Working Orders:樂威壯
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| Status | Order | Ticker | Buy Stop | Protective Sell Stop | Risk From Entry |
| Open | Buy | COH | 46.07 | 43.57 | -5.43% |
| Open | Buy | JNPR | 30.97 | 29.4 | -5.07% |
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.
