The market has hit its first real turbulence since 2013 began—since mid-May, the major indexes and most stocks have gyrated lower. And our Two-Second Indicator is now flashing red, giving us enough evidence to do some selling and raise some cash. That said, the trends of the market remain up (though our Cabot Tides is back on the fence), and we’re pleased to see many growth stocks hold up well, especially compared to interest rate-sensitive names. It’s not a reason to be bullish, of course, but we are honing our watch list (page 3) and are ready to buy ... if the market rights itself soon.
