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Investors came into September looking for a pullback. After all, September is an historically poor month for equities and after all, stocks had run up 50% from their March 9th closing lows. The problem is that thus far, thru September 17th, stocks as represented by the S&P 500 have climbed 4.40%, confounding most. Herein lies the rub. Herein lies the problem with “trading the market.” Herein lies the problem with watching too many “Market Wrap” shows and “selling into the rally.” Basically, the stock market is known to confound even the most astute investors, to zig when it should zag and bascially make everyone look foolish at one point or another.
That is why we believe in asset allocation — the science of investing based upon your objectives, time horizon, financial obligations and tolerance to risk. Need we say more.