CASH IS KING

I just moved about 20% of my portfolio into cash and fixed income. There are simply too much uncertainties out there and we are coming into the September-October season when seasonaly has been poor performing period of the year. The housing numbers appeared really bad. There's no more dispute about the slow down, the difference is on whether the landing is "soft" or "hard". I believe caution and defense remain the key in the next few months. There will be plenty of time to get into the market. If you have to buy any, make sure it is non-cyclical, defensive and at low entry point.