Sticking to the Game Plan

The Closer - Early last week, the Investment Management Team (IMT) decided to trim some equity positions (both stocks and ETFs) to raise cash across different allocations to protect accounts in times of a down market. Dating back to the end of 2020, we've been cautious in the short-term and after raising cash in several portfolios we are being patient for another buy opportunity that would coincide with our market outlook. A key take away from today's market activity is the Nasdaq's performance which had more than doubled from its March 2020 low. The decline today of nearly 2.5% could be an indication of a correction in the overall market which we are preparing to take advantage of with our cash on hand. Check back later this week for more updates from the IMT. - Tony (The Closer)

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