Last week, I switched from a medium-term cautious stance to a medium-term bullish stance.
Those who’d been waiting to get into one of my permanent portfolios finally did so in front of a nice weekly advance. Last week, here’s how they did:
> The Dow One: +16%
> Double The Dow: +5%
> Maximum Midcap: +2%
It won’t always be that good, of course. The market will remain volatile, and patience in specific sectors such as housing is still warranted.
In general, though, now is the time to be positioning your money for an end-of-year surge higher. The beauty of my permanent portfolios is that they take away the pressure of picking the right stocks, a task that’s daunting to even full time professionals, much less part-timers.
Now is a good time to come aboard The Kelly Letter because it will help you put your money in the right places to benefit from the gains still to come.
The letter has one of the highest subscriber retention rates because it’s a constant source of calm commentary. We were never worried about the supposed credit crunch, sub-prime killing the economy, the greatly exaggerated death of the yen carry trade, high oil prices, hurricane season, or an imminent recession.
Last spring, we took an in-depth look at the real estate market and concluded that there was nothing resembling fire sale prices yet. That was dead-on accurate, as many of the stocks of homebuilders are now half the price that they were back then — and we’re very close to buying one of them at a price lower than that paid by one of the smartest inside traders of the stock.
Remember the China meltdown in 1Q? We never flinched, and in fact took advantage of those low prices to add to positions that skyrocketed between March and June. We expected a strong May and then a weak medium term in the market, and that’s precisely what played out.
We didn’t sell one share during the rough summer months, but instead set price targets and bought one stock on the cheap. Others we’re still watching for the right entry price, which is to say a cheap entry price.
While waiting for individual stock prices to line up, I’m unequivocal about this being the right time to put money into the market to benefit from strength ahead. There will be good and bad days, but the medium-term trend will be up.
Any further weakness around recession talk or how much the Fed cuts rates or the high price of oil is just another sale before the chug higher begins. The end of this year will be strong. Do not miss it.
Give me a penny and I’ll send you The Kelly Letter for a month. If you like it, I’ll charge you just $5.48 per month until you decide you don’t want it anymore. The reason I extend that offer is that the odds are you’ll stay with me forever — just like the vast majority of people who tried the letter before today.
Also, by the way, during that free month you can explore all of my archives and past portfolio moves in as much detail as you’d like. You’ll receive a password that gets you into the subscriber section of this site.
Start your trial today and I’ll be sure you get last night’s note and access to the subscriber site before the market opens tomorrow.
In any event, don’t let the opportunity to get in this market pass you by. Get started with The Kelly Letter by clicking here now.
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