Shifting Gears

excerpts from this week's report:

"If it isn’t obvious by now, it should be.

A key characteristic of this bull market (yes, it’s still a bull market) that began in the spring of 2003 has been its tendency to climb in a steady manner, with low volatility on the way up, and then to experience sharp, seemingly out-of-the- blue corrections such as the one we are now having. In other words, a bull market punctuated by sharp, sudden corrections..."

"As for the bull market corrections experienced thus far, they can be described as a mini-Me version of a real correction: <10%. Will the current correction finally revert to the mean, if you will, and push the correction into the 10%+ range? For that answer, let’s consider the following six factors that are weighing on this market:..."

"Questions:

• Is this still a bull market? If so, then what we are experiencing is a correction.
• Is a leadership change underway? If so, what should be the portfolio mix once the correction is over and the bull market resumes?
• What should be the timing factors as the correction evolves?

Answers..."

also in this week's report
• Current Blue Marble Research Fed Valuation Model
• 2Q07 Earnings Update
• Model Growth Portfolio
• Key Economic Indicators

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