Don't Trade These!

I warned you last week not to use our indicator changes as trading vehicles.  If you had you'd have missed out on a nice little pop in stocks.  We have been underweight cash depending on client mandates and strategies for months now.  What we did was simply raise a little money to move us from the lower end of our target allotments.  We are still pretty fully invested.  Our change solely indicates an acknowledgement that stocks are overbought and not as cheap as they were in last fall.  

I still think stocks have the potential to be higher by year end.  I don't think they will necessarily go up in a straight line.   Stocks are rallying today on positive news out of the Italian elections.  Will have to see what the rest of the week brings.

BTW I'm no genius but I got one thing right in the past few months!