The market has stabilized during the past couple of weeks, which is good to see. When you combine the market’s recent bounce with the incredible pessimism out there, it wouldn’t surprise us if last week’s low ends up being the bottom for this correction. However, it’s too soon to say that for certain; our market timing indicators continue to tell us that the sellers are in control, and we’re going to stay defensive until that changes. The Model Portfolio remains about 65% in cash.
