From the desk of Vance Howard:
The market is trading in a much better range than a few weeks ago, and the HCM-BuyLine® is still negative but is slowly firming up. I was watching Cramer yesterday morning on CNBC and he made a comment about how bad things have gotten, and it reminded me of the of the adage “markets bottom on bad news”. Along with our domestic issues, international turmoil is very heavy and one must ask, was the bottom set back in late January?
One word of caution: a few good up days does not reverse a downtrend. Let the HCM-BuyLine® clearly turn positive before buying, stay disciplined, and wait until the trend turns back up. There are a lot of very attractive opportunities that have had major selloffs, such as Salesforce, AMD, Meta/Facebook, NVIDA, and the list keeps getting longer. When the market does turn back up, we will be looking at a lot of great companies that have sold off. As we have mentioned before, we have built up a very nice cash pile and will hopefully be able to take advantage of a lot of bargain buys.
You can expect a volatile market for the next few weeks to months, but it should firm up by mid-year. Until the HCM-BuyLine® turns back up, sit tight and be prepared.
Vance Howard
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