Chico, if you look at the first few months this year on the growth chart, you will see basically flat performance until the volatility ticked up associated with the early May sell-off. The fact remains that it is hard to make any headway in a very choppy, trendless market. In those periods, you might just choose to go to the sidelines and wait in Cash, but the risk is that you might lose the first part of a breakout. At least during that period the system was holding its own.
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