The market has been full of yellow flags for a while, and with the Iran attacks (and uncertainty) going on, the sellers continue to lean on much of the market, including growth stocks. To be fair, the market has bent but not broken--our Cabot Tides are on the fence and many recent breakouts are pulling back normally so far. Still, given the poor evidence for growth stocks, we’re sticking with a cautious stance (we’re selling one name tonight, giving us more than 60% in cash) and think the market is near a make-or-break period--either support holds and the market can rally briskly (possibly on an Iran resolution), or support cracks and we enter a real correction. We’ll take it as it comes, but right here we continue to stay close to shore.