The market has staged a nice snapback since some panic-type selling early last week. It’s been very encouraging ... but we can’t quite stick a fork in the correction yet. Our Cabot Tides are on the fence; a little more strength would give us a new buy signal but we haven’t seen it yet. Even so, we are optimistic that the major uptrend is beginning to reassert itself. While we will hold on to our 33% cash position, we are changing our ratings on three of our stocks back to buy in tonight’s Letter. Elsewhere, we write about the importance of having staying power with your stocks on page 5; without it, you’re sure to be shaken out of numerous good stocks, as so many investors have in recent weeks. We review all of our stocks and indicators in tonight’s issue as well. Overall, we’re “leaning bullish,” and we’re hoping to put some of our cash back to work if the Tides give us the go-ahead. Find all our latest thoughts inside.
