Uncle Bill

Are You Missing the ETF Rally?

I noticed that your positions in this article are only a month old, so I checked your previous posts to see how you've been doing. On June 20, with SPX a 1512, your post was Outlook Continues to Be Bullish. About two weeks later, July 3, with SPX at 1534, your title was Outlook Moves to Neutral from Bullish. Three weeks after that, with SPX at 1511, your title was Outlook Shifts to Bullish. Ten days later on August 2, with SPX at 1472, you wrote "What has happened in the last week has little to do with the valuation of most stocks. We find many attractive buys on our "watch list" and we have added to our positions." Two weeks later, on August 17, you wrote, "Our intermediate term model turned neutral as we reported on August 1st, and negative a couple of days later." At the time of the post, SPX stood at 1411. That was pretty much the low for the summer. What's a thoughtful reader to conclude?