Our Cabot Tides are now negative and our Two-Second Indicator is recording triple-digit levels of new lows every day, a sign of a very weak broad market. Not all the evidence is bad—there are many growth stocks holding up well—but our focus is mainly on capital preservation at this point. We’re selling one more stock tonight (JD.com), which will give us a cash position of about 40% and we’re placing one other stock (Tesla Motors) on hold.
