From the desk of Vance Howard:
The markets staged a relief rally this week, giving hope the bear market is coming to an end. Unfortunately, the HCM-BuyLine® remains negative and the trend is still down. This did little to affect even the short-term trend, so odds are that this rally was driven by shorts covering and maybe some speculators trying to pick up deals. By the way, there are some great deals out there. Ask yourself this question: if you bought today, would you be happy you did three years from now? I’ll give you my answer to that question using odds. The odds of the market being higher three year from now are incredibly high, and I would say even as high as 90% or better. When you look at stocks like Wells Fargo, Qualcomm, Inc., even Apple and Microsoft are looking like very strong buys. Being patient and waiting until the trend changes is important. We are in a bear market and the probability of the markets selling off even more is very high.
This communication is issued by Howard Capital Management, Inc. It is for informational purposes and is not an official confirmation of terms. It is not guaranteed as to accuracy, nor is it a complete statement of the financial products or markets referred to. Opinions expressed are subject to change without notice. Howard Capital Management, Inc. may maintain long or short positions in the financial instruments referred to and may transact in them as principal or agent. Unless stated specifically otherwise, this is not a recommendation, offer or solicitation to buy or sell and any prices or quotations contained herein are indicative only. To the extent permitted by law, Howard Capital Management, Inc. does not accept any liability arising from the use of this communication. Howard Capital Management is an SEC-registered investment advisor which only does business where it is properly registered or is otherwise exempt from registration. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the advisor has attained a particular level of skill or ability. Past performance is no guarantee of future results.HCM-011222.01