Officially, Cabot’s trend-following indicators now tell us that the intermediate-term trend of the market is down—and this means it’s prudent to increase your cash position, while leaning toward caution in new investments.
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Bad News, Good News
Our last issue was titled “Burden of Proof is on the Bulls,” and since then, the buyers have failed to step up to the plate, leading to a worsening of the overall evidence—earlier this week, our Cabot Tides flipped to bearish...
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That tech stocks would cool a bit has been one of my key themes over the past few issues; and September has seen it come to pass.
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Technically, the market is now in an intermediate-term downtrend, which tells us that additional defensive measures would be prudent. In the very short term, however, I expect a bounce from today’s high-profile decline, so I’m mainly holding.
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The trend favoring highly scalable, high growth U.S. technology stocks is unlikely to change in the near future but diversifying into different countries and sectors is a good idea as we move into the fourth quarter.
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Overall, our market-timing indicators remain bullish, and thus the prescription for investing success is to maintain a diversified portfolio of healthy stocks.
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Burden of Proof is On the Bulls
At heart, we’re students of the market, which means one of the key tools we use is spotting the difference between normal, run-of-the-mill action and abnormal, noteworthy action, the latter of which is what usually causes us make...
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Markets were abuzz this week with talk of a “tech meltdown,” with Tesla (TSLA) getting hit rather hard on Tuesday, falling more than 20% before bouncing back 10% yesterday.
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Overall, our market-timing indicators remain bullish, and thus the prescription for investing success is to maintain a diversified portfolio of healthy stocks.
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With the exception of another nice gain by NovoCure (NVCR), this was a quiet week for the Cabot Global Stocks Explorer portfolio as the Nasdaq continues its march, up almost 35% so far in 2020.
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The bull market remains in full force, even as various signs (sentiment and charts) caution that a correction is increasingly likely.
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Has the “Re-Rotation” Begun?
When our last issue went to press, growth stocks were under pressure. It wasn’t an epic disaster, but there had clearly been a change in character, with the initial market leaders (those that burst to new highs in April or May)...
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The Cabot Global Stocks Explorer portfolio had another good week, with four stocks all making major moves.
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The market’s strength has been very impressive, and our market-timing indicators continue to tell us that the market will be higher in the months ahead.
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2020 has surely been one for the record books—the sharpest selloff in history from a record high to a bear market and then the sharpest rebound in history from a bear market to a new record high.
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The broad market continues to look very healthy, with good breadth that suggests the ultimate end of this bull run is still months away.
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Growth Stocks Under Pressure
We saw signs growth stocks were ready for a “real” correction in June, but the buyers showed up. And again in July, it appeared the red-hot growth titles were ready to rest—and some of them did—but most enjoyed yet another to...
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Markets are showing great resiliency as the S&P 500 nears a record and stocks have risen all but one day in August. Optimism about an eventual stimulus bill and the prospect of declining Covid-19 cases and a vaccine are still supporting the economy markets...
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Despite a few cracks in growth stocks in the last couple trading days, the overall stock market continues to hum along, with the S&P 500 a mere 1% below all-time highs as of this writing.
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All eyes are on Washington this week as markets, which have risen over the last four trading sessions, are counting on lawmakers hammering out another stimulus bill. Our emerging markets market timer remains positive.
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