Michael Cintolo, editor of the top-performing Cabot Market Letter, thinks some weak recent economic data may actually be a precursor to an upward move for stocks.

“Anecdotally, we think [this week’s] horrible manufacturing report (the first contraction in the sector since 2009) fits well with a bottoming market — you often will see these types of backward-looking indicators produce scary readings near turning points,” Cintolo said, according to MarketWatch. “That’s not a prediction, just an observation.”

Cintolo said he’s “not ready to jump in with both feet quite yet” when it comes to the stock market. His advice: “Sit tight with about half your portfolio in cash, and half in leading stocks. Last Friday’s huge market rally was very encouraging and puts our Cabot Tides back on steadier footing. We’re optimistic, but we’ll sit tight with our current crop of six stocks for now … watching them and many others closely; if the market’s recent upmove continues, we’ll likely extend our line in the days ahead.”

MarketWatch’s Peter Brimelow also offers a look into Cintolo’s strategy, which relies on fundamental and technical analysis and several moving averages — and a lot of discipline. In a recent letter, Cintolo asked rhetorically whether one should get out of the market amid all the economic fears. “Not us!” he said. “Instead, our advice is to do what we always do … follow the system. Today, that might feel more like riding a bucking bronco…but, while we’re all following the world’s news and rumors (and seeing the market react to them) on a daily basis, it’s a good time to remember the rubber-meets-the-road principle of growth investing — namely, that the big money is made in the big swing, by owning big positions in the best leading growth stocks during a major bull move.”