While there’s been plenty of volatility during the past couple of weeks, not much has changed in the overall market—our Cabot Tides are still bearish and growth stocks remain out of favor, but the broad market is holding up well (with some energy stocks making gains). In total, the evidence continues to argue for a defensive stance as we wait for the bulls to re-take control. That doesn’t mean we’re completely standing pat; we added one energy stock to the Model Portfolio last week and we’re keeping another of our current holdings on a very tight leash.
