If you had asked me 2 weeks ago if the equity markets would go to new all time highs before a correction came in I would have thought the odds pretty slim.
Well, sometimes slim odds come to fruition and currently we have a case in point.
The market put together quite a late rally in price today after the notes from the last FOMC meeting were released.
I continue to stress however that this is not a time for celebration, but rather a cautious stance is needed at times like this. I realize that it is easy to get sucked into rallies like this one and it is difficult to sit on the sidelines as stocks continue to appreciate, but I firmly believe your patience will be rewarded.
I remain hedged.
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