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As expected Congress kicked the can down the road on the debt ceiling. By all accounts the Republicans seemed to take a PR hit on this one so either side might be reluctant to fight about this issue in the future but I am sure they will find something else to fight about, and roil the markets about.
Events like this can be scary for investors as everything they see predicts gloom and doom. A few key things to always remember about people in the media predicting bad things are:
It is critical to sort through the noise to realize what is really something to worry about and what is just a pain in the butt.
Positioning and Recent Moves
Income Strategies: Our Income Strategies are positioned for an uptrend in stocks and some select bond sectors.
Trend Aggregation Strategies: We are currently fully invested in our equity momentum models in accordance with the market trend. Our counter trend models are in cash waiting for market weakness. After the most recent rally the market is looking overbought so the cash may be put back to work shortly.
Momentum Strategies: Our Momentum Strategies are at their full equity allocations.
Specialized Strategies: Our momentum models are fully invested while our counter trend models are in cash waiting for market weakness.