Earlier this month, we highlighted how Dan Sullivan, editor of The Chartist, had moved all of his model portfolios into cash. The move was notable because over the past three decades, Sullivan has guided The Chartist to one of the best track records of all the market-timing newsletters Hulbert Financial Digest tracks.
Now, however, Sullivan has quickly moved back into buy mode, notes MarketWatch’s Mark Hulbert. Sullivan issued his “buy” signal Monday night, Hulbert says. While his sell signal earlier this month didn’t work out well, Hulbert says investors should still pay heed to Sullivan’s moves. “Sullivan’s long-term record suggests, at a minimum, that we give him the benefit of the doubt,” Hulbert writes.