The Fred Report - Sector Review March 2013
Since the last sector review, the market and SPY have reached our objective of 156 for this rally. Economically sensitive indexes have improved, with the exception of XLB. We have made selective stock changes to position us more defensively. It continues to look as if the first half of 2013 may be stronger than the second, so we are a bit more cautious and some adjustments seem prudent.
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