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The iShares EM Fund (EEM) is holding above its 50-day moving average, which keeps the Cabot Emerging Markets Timer positive. And we’re encouraged by the rebound in Chinese stocks as a group. Five stocks in the portfolio are scheduled to report earnings in the next couple of weeks (and the sixth likely will as well). We have no changes tonight.

Earnings reports from three of our stocks and ratings changes on two stocks.

From a big picture perspective, the bull market remains in effect and healthy. The intermediate- and longer-term trends of the major indexes are pointed up, and the trends (and overall action) of leading stocks are healthy. Thus, we remain bullish.

Remain bullish. There are some cracks in the market’s armor, with some major indexes softening and the broad market under more and more pressure. However, our two trend-following indicators are positive and most leading growth stocks are acting fine. While we’re keeping a close eye on our stocks and will take action if necessary, we’re not making any major moves tonight.

We’ve finally started to see some selling pressures emerge during the past few days, first on the broad market, and late this week, on the major indexes. Of course, the media is putting out reasons for the decline (a possibly delay in any corporate rate cut is one popular reason making the rounds), but the fact is the market was probably due for some air pockets after its uninterrupted run.

I don’t have any ratings changes today, but read on for updates on all our holdings, most of which are still rated Buy.

Rumors are racing about that Hasbro (HAS) might attempt to purchase Mattel (MAT). There are absolutely no details to discuss at this time. Considering that these are the two largest U.S. toy companies, I would anticipate a serious amount of antitrust drama surrounding a potential merger.

Raise a little cash. Today’s huge selling wave in growth stocks isn’t the end of the world, as the trends of the major indexes and most leading stocks is still up. Thus, it’s vital to take things on a stock-by-stock basis, selling those that are raising red flags and holding (or buying) those that are dipping normally.

One of our stocks reported much better-than-expected third-quarter results yesterday afternoon. Investors reacted by pushing the share price up about 8% since the market opened this morning.

The iShares EM Fund (EEM) is still well on top of its moving averages, which keeps the Emerging Markets Timer firmly positive.

Remain bullish, but keep your eyes open. The overall market looks fine, but remains extended to the upside, which makes finding lower-risk entry points more difficult. We continue to advise holding your uptrending stocks to give them a chance to turn into bigger winners.

We remain (a) in a very strong bull trend, which (b) portends higher prices in the months ahead, but (c) has left most indexes, sectors and stocks very extended to the upside.

Updates on three of our stocks that reported quarterly earnings, plus updates on two stocks with Strong Buy ratings.

The major indexes collapsed on Friday, with the Dow plunging 666 points and the Nasdaq losing 145 points, capping off the index’s worst week in a couple of years.

One of our stocks reported earnings per share that beat analyst estimates. Revenue came in on target, expenses came in below estimates and operating income came in much higher than expected.

When it comes to the overall market, the song remains the same—the major indexes are in steep uptrends, our trend-following measures are bullish and many longer-term indicators and studies point to the bull market having months of upside ahead.

Three of our stocks reported fourth-quarter 2017 results this morning.

As you can tell by glancing at the portfolio summary table at the bottom of this update, the market is healthy. I’m putting two stocks back on Buy today.

We remain bullish and heavily invested, though we’re being selective with new purchases and waiting to see how the market and leading stocks react to earnings in the weeks ahead.

The stock market remains hot, and while a pullback is always possible, the trend is firmly up. A lot of stocks are overextended short-term though, including some in our portfolio, so don’t be afraid to take partial profits where you have them, and be selective on the buy side.