9/18/2023
By Charles Payne CEO & Principal Analyst

The market continues to muddle through the month of September, and that’s a good thing. Muddling is better than retreating when that is the other alternative. When I began in the business, old-timers would say retreat (pullbacks and drawdowns) was cathartic.  After looking up the word, I came to the easy conclusion that it's true.

But after watching so many ‘healthy’ pullbacks evolve into unhealthy routs for my portfolio, I decided to be on guard for those run-of-the-mill ‘cathartic’ pullbacks. I prefer markets that pause for the cause instead of pulling back for health reasons. Don’t get me wrong; we do not panic or automatically sell when the market turns slightly lower. It shakes out weaker hands and creates the entry points that lead to outperformance.

Instead of pullbacks, we are repositioning. Defensive over Cyclical stocks, save the Financials (XLF), was the story of the broad market last week.

To read full repod thert contact your account representative or email Info@wstreet.com. 

Charles Payne
Wall Street Strategies

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