The market has taken on water in recent week, first below the surface as growth stocks lagged and defensive stocks ramped up. And now we’re seeing the selling spread to the major indexes and many stocks, which have taken hits. Tonight, our Cabot Tides have turned negative after a great run higher in recent months. It’s not a death knell, but it’s confirmation of the weakening environment. We’ve trimmed our sails in recent days; the Model Portfolio now holds seven stocks and a cash position near 40%.
