From the desk of Vance Howard:
The HCM-BuyLine® turned back up on a short-term and intermediate-term basis last week, but NOT the long-term trend, which is still negative. We started adding to existing positions as well as adding new ones, but at a very tepid pace. Optimism is at hand but being prudent is also important. The market is very overbought, and a pullback is warranted, so be on the lookout for pullbacks to continue and begin adding to positions as opportunities arise. The bond market is also starting to turn back up, but tight stops on any new buys should be adhered to.
With the HCM-BuyLine® turning up, it is still very wise to be patient. Remember the famous General George Armstrong Custer? Well, he was the first one to run out there and he ended up with all the arrows in him. Moral of the story, be a little bit patient.
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