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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Back on August 13, when the broad market was strong and marijuana stocks were even stronger, I took partial profits in our four strongest stocks (which were also our four largest positions) because they looked very extended to the upside.
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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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There hasn’t been any real news about our stocks in the past week, but I’ve been watching the charts carefully, trying to decide whether it’s time to put some of our 35% cash back into the market, or to take more out, or simply...
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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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Fundamentally, the only recent news regarding the marijuana industry is that the U.S. House of Representatives will vote on the MORE Act, which would deschedule marijuana and thereby legalize it federally, the week of September 21. Passage is likely. Getting through the Senate not.
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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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Three weeks ago, when the marijuana sector seemed extremely extended to the upside, we sold 25% of each of the positions in our four U.S. multi-state operators
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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 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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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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One of the market truisms that I learned long ago concerns selling stocks near the end of a strong run-up—and because the odds are growing stronger that we’re nearing such a situation now, I bring it up today.
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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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Over the past week, marijuana stocks have been particularly strong, with the strongest being the four leading U.S. multi-state operators that we own—and that means it’s time for another brief update on strategy.
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The market’s main trend remains up, and thus our goal continues to be maintaining a full and diversified portfolio of high-potential stocks.
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Positive, but Less Powerful
One of the big reasons the market has always attracted us is that it’s a contrary beast, requiring investors to think and perceive things differently than in their day-to-day view of the real world. To the average person who turns the...
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The market is strong, our portfolio is full, and the prospects for the months ahead look good. Thus I continue to recommend that you be heavily invested in stocks that help you meet your investing goals.
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