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Continue to lean bullish, but also keep some powder dry as we wait for growth stocks to kick into gear. The overall market remains in great shape, and with the trends pointed up, we expect higher prices down the road. However, growth stocks aren’t participating, with many still under pressure. Our one change tonight is that we’re placing Proofpoint (PFPT) on Hold.

We’re nearing the end of third-quarter earnings season, and so far, 75% of companies reported results that beat Wall Street’s expectations!

How do you know if you own a “good” stock that will bring you capital gains?

The Cabot Emerging Markets Timer is flashing a robust buy signal. So, following our rules, we’re edging steadily back into the market, increasing our exposure to strong growth stocks. Today, we are upgrading SSW from Hold to Buy and initiating positions in SBGL and TLK with recommendations to Buy a Half position of each stock.

The sellers really took control last week, punishing many resilient stocks and pulling down the major indexes. And the distribution continued this week, with the major indexes (especially the Nasdaq) sliding persistently.

The broad market pulled back sharply this week, dragging the S&P 500 through the 2,100 level once again. Today’s Fed meeting, the shooting in Orlando over the weekend and the upcoming Brexit vote are all contributing to a heightened sense of uncertainty and a “risk-off” mood on Wall Street.

The market remains in good shape. A leap last Friday to new highs (spurred on by a solid jobs report) has led to another few days of tight, solid action.

The Emerging Markets Timer is still pointed up, despite the market’s recent consolidation. Our only move tonight is shifting our position in TAL Education (XRS) to a Hold rating.

We have one portfolio change today: we’re finally putting Costco (COST) back on Buy, after the stock broke out of its trading range to the upside last week. Elsewhere, I encourage you to do a little buying if you’re underinvested, taking advantage of pullbacks to start new positions in stocks that are acting well.

The Emerging Markets Timer is still pointed up, despite the market’s recent consolidation. Our two moves tonight are buying a half position in Alibaba (BABA) and shifting our position in Anglogold Ashanti (AU) to a Hold rating.

We had a terrific week with the vast majority of our stocks, supported by a 0.8% rise in the S&P 600 Small Cap Index. That’s not a big move, but given the recent break-out to all-time highs, a little follow-on strength across the board suggests the market could be setting up for another run higher.

The market continues to act just fine, with the major indexes generally trading in a tight range. Tight trading isn’t necessarily bullish; if it occurs after a multi-month run, it can be a clue to exhaustion in buying pressures. But coming so soon after an initial thrust out of a big trading range, it’s probably a sign that the sellers are out of ammunition.

Many of our stocks are following the market’s lead and trading sideways. I have no rating changes in today’s update, but several of our holdings reported earnings over the past week.

The Emerging Markets Timer remains effectively neutral as the market hacks around in its three-month trading range. We have no changes to the portfolio today.

Last Friday and this Monday we finally saw a little bit of enthusiasm among investors--the number of stocks hitting new highs on the Nasdaq.

We may look to exit a few positions on strength over the coming weeks/months, but those moves will depend on share price momentum and/or earnings results. More companies have announced their earnings release dates, and three companies report next week. We have no ratings changes this week.

Very conservative stocks like utilities have weakened. The utility sector is still up 17% year-to-date, but what goes up must come down, and we’ll be selling half our position in Xcel Energy (XEL) today. I encourage you to reinvest the profits in stocks with stronger growth potential, like fellow Safe Income tier holdings Home Depot (HD), J.M. Smucker (SJM) or UPS (UPS).

The sellers haven’t had the power to drive the major indexes or broad market lower for more than few days despite a barrage of worrisome news and lots of uncertainties.

Shares of Mindbody (MB) are racing higher today after the company delivered revenue growth of 35.4%, and Shares of LeMaitre (LMAT) are also rallying over 10% after the company reported Q3 revenue growth of 22%

Dave & Buster’s (PLAY) has dipped back toward the top of its prior launching pad as many restaurant stocks have sagged. We’ll place the stock on Hold and keep it on a tight leash. And today, Vulcan Materials (VMC) fell sharply after missing earnings estimates, partially because poor weather in the second quarter delayed construction projects. We’ll respect the stock’s action and move VMC to a Hold rating tonight.