is this the final stage of the bull market? It’s anywhere but sideways from here

HEALDSBURG, Calif. (MarketWatch) — Alright, I admit it. In many ways, I’m a chartist at heart.

Though the first screen when evaluating a new company for possible inclusion in Nate’s Notes is always based entirely on “fundamentals,” once a stock has made it into the newsletter and a position has been established for the newsletter’s portfolios, “charting” plays a significant role in our management of the position from then on out.

Nate's Notes

HULBERT PERFORMANCE SUMMARY (ANNUALIZED)
RAW RETURNS	NEWSLETTER	WILSHIRE 5000
1-year	10.9%	17.32%
5-years	4.55%	3.04%
10-years	16.36%	4.49%

• Year publication commenced: 1995
• Year HFD tracking commenced: 2000
• 

The reason for this is simple.

Stocks fluctuate from “undervalued” to “overvalued” and back again over and over on Wall Street — and while the time-periods and magnitudes involved often vary greatly from cycle to cycle, the chart patterns traced out by the stocks (or indexes, or commodities, etc.) always look basically the same as the cycle plays itself out.

Consequently, we try to add to our positions in the newsletter when our reading of the charts suggests that we are in an uptrend, and to lighten up on those positions when it appears that uptrends have come to an end and new downtrends are beginning to take shape.

DEEPAK KUMAR

PGDM