Same song, third verse.
We’ve been saying ad-nauseam that we believe the U.S. stock market is approaching the closing stages of an impressive ten-month bear market rally, and stock indexes will soon be rolling over as we race toward the backside of 2023.
We can still see the potential for an additional 5% upside in the stock indexes if all goes well, but the eventual downside could and should far outweigh that.
Now don’t get us wrong, we’re still net long for now but are seeing some success on the short side as of late, which is telling. We aren’t playing large enough to hurt ourselves either way and will hoard our cash until the new trend emerges.
The views expressed represent the opinion of Good Life Asset Strategies, LLC. The views are subject to change and are not intended as a forecast or guarantee of future results. This material is for informational purposes only. It does not constitute investment advice and is not intended as an endorsement of any specific investment. Stated information is derived from proprietary and nonproprietary sources that have not been independently verified for accuracy or completeness.
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