I'm not a prophet of doom but I'm accumulating cash. I'm selling any stock that is trading below its 100 day moving average and I'm not replacing anything in my personal portfolios.

Only 13.3% of respondents to the most recent Investors Intelligence Sentiment Survey described themselves as “bearish.” The contrarian indicator at 13.3% represents the lowest level of bearishness since February 1987.

Have you studied the history of stocks in the U.S? Most people are aware of the crash in 1929 as well as the capital depreciation that occurred through 1932.

Picking from the multitude of style ETFs is a daunting task. In any given style there may be as many as 49 different ETFs, and there are at least 260 ETFs across all styles.

We argued at the beginning of the year that small caps were overvalued compared to large caps and would underperform this year. That prediction has been right so far as the Russell 2000 is down 4% while the S&P 500 is up 4% in 2014. We don’t see this divergence ending any time soon.

Downward revisions to economic growth going forward have little to do with the weather in the first few months of the year.