April proved to be another up month for the overall stock market. The NASDAQ crossed the 6000 mark for the first time, and all the indexes we track were positive. So far the Dow is up 5.96% in 2017, while the S&P 500 is up 6.48%, the NASDAQ is up 8.33 and the Russell 2000 is up 3.17%. It looks as if investors are hopeful about improving on healthcare legislation and reforming the tax code. If they fail, there could be a sudden and substantial reversal in the markets that could get pretty scary. Our short-term outlook went negative on March 24th, but our medium-term and long-term outlooks remain positive. Therefore, we remain conservatively invested in our managed portfolios. It would be great to absolutely know when the market was going to take a turn, but since no one does, we will continue to follow our discipline and our research. As always we invite the readers of this newsletter to write or call us with questions or comments. Our goal is to keep the lines of communication open always.