Market Update: Bulls Are In Control
The bulls remain in clear control as the market refuses to fall. Last week, I wrote, “The market had every reason in the world to fall, and fall hard, over the past several months. Instead of falling, it moved sideways and the action over the past few weeks has been very strong. The big rally we saw yesterday echos our weekend report and bodes well for the bulls. Stepping back, the bulls remain in clear control until Aug’s lows are breached. Thankfully, we did not get stopped out over the summer and move to cash like so many other people did. We are in a very strong position and have enjoyed a very strong year. The market wants to rally and I am not about to get in its way.” The same is true for this week. The market continues to grind higher as all eyes now turn to the Fed meeting. I would be remiss not to note that the market is getting a little extended to the upside and I wouldn’t be surprised to see another nice little pullback occur.
FLS Portfolio:
The FLS portfolio continues acting very well. Our stops are set and we will let the market guide us. Here is a snapshot of the portfolio as of this writing (12:27pm EST):
Portfolio Update:
The service owns: ADBE +41.02%, BABA +83.91%, CAT +16.32%, AAPL -0.04%, ISRG +10.75%, NFLX +7.36%, NVDA +12.30%, AMZN -2.61%
The service will exit: ADBE @ 138.17, BABA @ 147.47,
CAT @ 107.18, AAPL @ 151.77, ISRG @945.85, NFLX @165.62, NVDA @167.38, AMZN 954.56
Working Orders:
There are no new working orders right now.
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.
