Volatility!

Get used to it. It is here to stay and should remain elevated. The Bull and his partners have been warning this was coming for over a month now in The Lonely Bull weekly blog. We stated that the internal technical picture of the stock market was deteriorating. Additionally, many high-growth names were having parabolic moves and traders were acting more and more irrationally, which is never a good sign.

We raised additional cash in most accounts we manage to prepare for the opportunities that volatility provides. This was done by selling positions that were not working. Since then, we have managed to make several upgrades at favorable prices. We continue to look for additional opportunities to upgrade.

Our focus on the long-term makes it easier to weather the near-term action. We put ourselves in the position to make the current environment an opportunity rather than a risk. The Bull hopes you have done the same. Happy hunting and stay steady my friends.

-The Lonely Bull