Daily Market Assessment

Tough Sledding Ahead

Unfortunately, yesterday's comments were very prescient. Uncle Ben went out of his way to explain that the Fed still thinks inflation is a Big Problem, which means interest rate cuts are futher off than we had hoped. Naturally, the market tanked. Although not as bad as February 27, it still took the wind out of the sails of every bull. Economic news wasn't all that hot, either. So we're back to a bearish outlook in the short term, even though the long-term forecast is for a steady rise in prices. The techs and retail are going to weight down the whole market for the next several weeks.

Which is why now is a good time to go on vacation in Italy. See you in mid-April.

Summary: Stay in cash for the time being!