Both of us tend to be about fully invested in investments we feel will do well in the current environment. There really is no market out there to time.
All investments make there own unique path.
Therefore when one makes a trade one makes a choice to time that investment. That investment is never the market . Because of the high volatility and risk of an all your eggs in one basket approach the Pony Express has tended to use a conservative momentum approach to selecting funds. When the momentum in the small cap value funds started to deteriorate in February, I felt the need to move to a low volatility fund that would likely do well in a down market. Paul s fund matched that need about as good as any fund out there.