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Most of the evidence remains bullish, so we continue to hold our winners and selectively put money to work — but the fact is that most growth stocks have been chopping sideways overall for a month or two, so we’re OK holding some cash and waiting patiently for the market and leaders to show their near-term hand. Tonight, we’re booking a little more partial profits in one of our winners, but are standing pat otherwise and will follow the lead of the market—and of leaders—going ahead.

There is a growing mental health crisis going on out there.

But it’s starting to be addressed by a tiny, unknown (so far) company with a virtual care platform that’s beginning to make a difference across the U.S. And it’s doing so while growing both the top and bottom lines.

All the details are inside the April Issue of Cabot Small-Cap Confidential.

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.

The next earnings season starts very soon, with Mattel (MAT) set to report on Tuesday, April 23.

It seemed like the post-Fed action from two weeks ago may have paved the way for another leg up in the leadership. While that’s not off the table, we’re continuing to see a lot of crosscurrents out there as money sloshes around. What does it mean? Not much yet, as the major evidence remains positive.

It’s been a poor week for the market, with the big-cap indexes down in the 2% range coming into today, and broader indexes like small and mid-caps are off more, with growth stocks also lagging.

ESG (Environmental, Social and Governance) investing is morphing into “transition investing.” Here’s what it means, and three funds to consider for investors.

The market rally is forging ahead and making fools of the doubters, despite the Tuesday pullback. The S&P 500 is up 20% since late October and 7.5% so far this year as of Monday’s close.

GitLab (GTLB): Good Quarter, Questionable Guidance. Book The Gain

Half of all people need cataract surgery. But even though messing with your eyes is a massive decision, the Big 3 MedTech players in this market don’t have the best solution out there.

This is where today’s company comes in. It has developed cutting-edge technology that drives better outcomes for patients needing cataract surgery. The key? Its lens can be customized once in the eye!

All the details are inside the March Issue of Cabot Small-Cap Confidential.

WHAT TO DO NOW: The story remains the same, with the primary evidence in good shape, though many leaders are extended and more are starting to wobble. Last Friday, we sold half of Elastic (ESTC), which got walloped on earnings, and today we’ll sell the rest, as the stock has continued to show weakness. That will leave us with 37% in cash, which is more than we’d prefer—we’ll hold on to it for the moment but could re-deploy some in the very near future.

Sell Braze (BRZE)

Sell Gen Digital (GEN) and Part of Elastic (ESTC)

WHAT TO DO NOW: The market and especially leading stocks are still very choppy, with news-driven moves becoming the norm of late, and today we’re seeing another wave of selling in the names. Big picture, we’re still optimistic, but we’re taking things on a stock-by-stock basis at this point. Today we’re going to sell Shift4 (FOUR), which was hit hard yesterday after saying it received no worthwhile buyout bids and, without any bounce, we’re going to cut bait here, leaving us with 32% in cash. Details below.

Jerome Powell’s press conference yesterday, which followed the FOMC’s March policy decision (hold) and updated Summary of Economic Projections (SEP), went better than expected.

Many investors were primed for Powell to dial back expectations for three rate cuts later this year. Yet the SEP maintained that stance, which was set in the December SEP. That’s despite a slightly higher PCE inflation rate and GDP forecast than was expected three months ago.

Comments from Vice President Kamala Harris sparked a major rally in cannabis stocks, which are well positioned ahead of further catalysts on the horizon.

This week Chris and Brad talk about the latest Chinese GDP numbers and whether it’s safe to invest in China, Tesla’s earnings release, and what they’re seeing with Regional banks now that they’re reporting. After that, they break down FAANG stocks, their popular ascent as market shorthand, and whether Microsoft is “sexy” enough to sit at the cool kids’ table.