Two top-performing stock newsletters are sounding optimistic on stocks, though both are also exercising some caution, MarketWatch’s Peter Brimelow reports.

One, the Cabot Market Letter, recently stated that it is “still more positive than negative. But — and it’s a big but — as long as market leadership remains narrow, we’ll remain apprehensive. We really can’t be gung-ho about this market until we see breadth improve substantially.”

The other, Sound Advice, said last week that it expects the recovery will continue and we will not see a double-dip recession. But, it added that “the expansion will be fitful, which means that bad news will hit, growth will be uneven and until unemployment begins to show signs it is waning that share prices will have weeks like this. We recognize that this is an unpopular position, and can only say in our defense that we’re rarely found taking comfortable positions.”