Market Update: 01-17-23

Subject: Buy, Buy, Buy! Risk On!  The Issachar Fund is 91% invested in 53 growth stocks with great fundamental/technical chart patterns! Issachar holds a diverse list of stocks in some of these Sectors: Building, Chips, Energy, Finance, Machine, Medical, Metals, and Retail. The market wants to head higher, anticipating a Fed pivot from aggressive rate hikes to smaller increases. The market liked the CPI report last week and rallied into its down-trending 200-DMA on above-average volume indicating institutional money may be flowing back into the market. The NASDAQ 100 tech stocks index also looks attractive as it has traded above its 50-DMA on above-average volume since January. I am seeing many fundamentally/technically strong stock chart patterns that appear to be under institutional demand since January, so I have been buying. The market seems to have changed on January 1st as institutional money gets relocated for 2023. The market has been rewarding us for taking risk, so I plan to get fully invested this week if the market continues its uptrend. We may have started a new “risk on” bull market, and it may be time to buy, buy, buy! (There is no guarantee that any investment will achieve its objectives, generate positive returns, or avoid losses.)

The Fed’s balance sheet increased by one billion last week, which is encouraging! Since the Fed did not drop its balance sheet as it has been doing since 4/19/22, maybe they will not throw us into a recession as many have predicted. I believe the Fed will raise rates 25bps on February 1st, and possibly one more time, then leave rates alone to see how the economy responds. The market is a forward-looking mechanism, and I think it sees a slow growth recovery in 2023, which could be good for growth stocks.

Bottom Line: Issachar is invested in growth stocks poised to perform if this rally continues. If I am wrong, I do not plan to stay that way. If the fundamentals change for the worst, I will do my best to hedge (buy ETFs that short the market) or sell positions to avoid life-changing losses. Issachar is a mutual fund managed like a hedge fund, and that could be a valuable feature in the next bear market. Issachar lost less than -8% in last year’s bear market while staying in cash most of the year. The S&P 500 Index lost over -18% last year. Please consider adding to your account or opening a new account if you like what you have been reading. I want to wish you the very best of returns in 2023. Grace & Peace to everyone!

Links: Performance, Fact Sheet & Strategy, Blogs, My Story, Docs, BRI

Issachar: A Buy & Hold Alternative Actively Managed Like A Hedge Fund!

For all have sinned and fall short of the glory of God, and all are justified freely by his grace through the redemption that came by Christ Jesus. Romans 3:23

Investors should carefully consider the investment objectives, risks, charges, and expenses of the Issachar Fund. This and other important information about the Fund are contained in the Prospectus, obtained by calling 1-866-787-8355 or visiting The Prospectus should be read carefully before investing. The Issachar Fund is distributed by Northern Lights Distributors, LLC., member FINRA/SIPC. Horizon Capital Management Inc. (HCM) is not affiliated with Northern Lights Distributors, LLC.

Important Risk Information: Mutual Funds involve risks, including the possible loss of principal. An investment in the Fund may not be appropriate for all investors. The Fund may hold cash positions when the Adviser feels that the market is not producing returns greater than the short-term cash investments in which the Fund may invest. There is a risk that the sections of the market in which the Fund invests will begin to rise or fall rapidly, and the Fund will not be able to sell stocks quickly enough to avoid losses or reinvest its cash positions into areas of the advancing market quickly enough to capture the initial returns of changing market conditions. The Adviser’s judgment about the attractiveness, value, and potential appreciation of particular asset classes and securities in which the Fund invests may prove incorrect and may not produce the desired results. Past performance is no guarantee of future results. Ratings are only one form of Fund performance and should not be used as the sole consideration in an investment decision. Opinions expressed are subject to change, not guaranteed, and should not be considered investment advice. There is no assurance these opinions or forecasts will come to pass, and past performance is no assurance of future results. For more information regarding the fund, including current performance, please visit   Review Code: 1049-NLD-01/17/2023.

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