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These are good times. The S&P 500 is up 6% since the election and 27% year to date. This adds to a 26% return for the index in 2023.

The market is seemingly making new highs every day as investors expect a higher level of economic growth going forward because of the election. We’ll see if the economic growth materializes. But this optimistic economy expectation comes while the Fed has begun a rate-cutting cycle that will likely last the next two years. Why wouldn’t the market be partying?

The market has been resilient in the face of some bad headline news during the past two weeks, but just about every major index and most stocks and sectors are essentially neutral--the evidence is as mixed as it can be. That’s not a bearish thing, per se, and we’re actually making one small new buy today in a peppy growth stock. But until we see more decisive action among growth titles (possibly as earnings season continues to ramp up), we recommend holding a good amount of cash (45% after our move tonight).

Despite the market having some bumpiness, March was another great month for the Cabot Profit Booster portfolio as we closed four positions for the following profits:

Warrior Met Coal (HCC), Primo Brands (PRMB) and Millicom (TIGO) Report

Cannabis stocks rallied hard Monday, particularly after the close when we learned that the Florida Supreme Court approved a referendum on legalizing the sale of cannabis for recreational use. Florida already permits medical use, but the change would expand the size of the Florida cannabis market significantly, especially considering Florida’s large tourist industry.

CBD is hot, and acquisitions in the cannabis industry seem to occur daily, but the biggest marijuana stocks are cooling, at least for a while.

Long-term, however, I remain very bullish on both the companies and the stocks in the industry and am truly enjoying staying on top of the developments.

The gains so far this year, in both the sector and the portfolio, remain spectacular, but they won’t continue; I guarantee that corrections and volatility will come. And I also guarantee I’ll give you my best ideas on how to deal with them.

I’m recommending that we sell a quarter of our position in Super Hi International Holding (HDL).

Sell Barrick Gold (GOLD)

Sell a Half of Atlassian (TEAM)

We’re going to step aside from Byrna Technologies (BYRN) today.

Sell Teladoc Health (TDOC)

Sell Palomar (PLMR)

Sell Modine (MOD)

Sell TreeHouse Foods (THS)

I’m recommending that we take a one-quarter profit in our position in real estate fintech Zillow (Z).

Sell a Quarter of Centuri Holdings (CTRI)

Sell Life360 (LIF)

Buy Second Half Reddit (RDDT)

Sell Second Half Remitly (RELY)

Sell BellRing Brands (BRBR)