The market is overheated, but do not expect anything dramatic. Over the past 7 years, the market has been up in 6.
The trend for the general market is higher. But there are bear markets within it. Case in point: silver miners, coal, iron etc.
In short, I am expecting a minor pullback. We might drop 5% inside of the next two weeks, but recover it by month’s end. If your time frame is longer term, these moves are immaterial to you. For now, I am 65% cash, long a few boats stocks, and short AG, CCL, and JCP.
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What happened to April 15?
That is my prognosis. But that doesn’t mean it will happen.
I am out early due to the advice of my urinal shadows.
Nooner?
My advisor remains 100% invested. He’s not one to get nervous about time frames, charts and political upheavals.
SP 1580-1650 by years end.