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I know it is unusual but given the market I thought I would send along an update.
Nice bounce this morning but we lightened positions into the bounce especially in financials. I believe that financials will just be a bit weak given my feelings that the rate hike may be put off for a few months.
Technically I continue to look at the low established October 2014. We have bounced off that low in this most recent rally but we may retest at some point over the next few weeks.
As I said before, you have some time to shop and pick your targets. Do your homework here and keep some powder dry.
Cheers,
Tim
Tim Withers is Chief Investment Officer of MSW. He has over 20 years of experience managing money on both an asset allocation and tactical basis for clients as well as serving as investment analyst to qualified retirement plans and individuals. He holds a BA from Connecticut College and an MBA from the Wharton School at the University of Pennsylvania.
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