Good Friday morning. In Tuesdays Letter we talked about our markets/sectors and individual stocks that were hitting extreme overbought levels. What we’ve witnessed since is an overbought pause…both healthy and normal. It’s these pauses that give us our next great buying opportunity (for new or adding to positions) as well as a new base for the next move higher.

We learned yesterday that the record levels of cash sitting in money markets has only continued to grow, hitting an ATH of $7 trillion. Stunning amounts of cash on the sidelines. This liquidity will serve as rocket fuel for the Trump Bull market going forward. As a reminder, after Trump won in 2106 the S&P 500 rose 29% by the end of 2017 with Nasdaq soaring 39%. We expect dips will be short-lived. 

From our conversations with you, we can report that “animal spirits” are quickly returning. Red-pilled Americans are feeling decidedly optimist, however it is a process as there’s still plenty of fear about what the far-left...