Update: 04-22-24

Gold & Silver Shines!     Issachar Update: I sold all positions except for about 15% Gold and 10% Silver as the market digests/corrects! My lines in the sand were crossed (sell signals), so I followed my discipline and realized some profits before the market sell-off wiped away our gains. Our growth stocks had great fundamentals of accelerating earnings and sales, but the market did not care and sold the best names. The character of the market is changing; I recognized that risk was increasing and acted accordingly to preserve money for our future. Issachar is off to a great year, and I will do my best to maintain our trajectory. (There is no guarantee that any investment will achieve its objectives, generate positive returns, or avoid losses.)

Market Update: The major indexes continued to decline, with the NASDAQ falling six days in a row! The NASDAQ (tech stocks) is down about 7% since 4/11/2,4 after being up nearly 10% and is now up about 2% for the year. This pullback/digestion could be a correction (10 – 20%) in an ongoing bull market; however, I treat every minor pullback as a potential primary bear market (>20%). Every 20% decline starts as a 5% pullback, and every major bear market begins as a cyclical correction. We never know until it is too late, so we must manage risk in real-time and make good risk/reward decisions. Right now, risk is elevated, and there are few stocks to buy out of proper pivots. Patience and discipline are critical for long-term financial success.

Gold and silver have been under accumulation by global central banks as they see their fiat (paper) currencies steadily declining as inflation creeps higher. The more Congress spends, the more the Fed will likely be the largest buyer of newly issued Treasury debt, and the more inflation will rise. It is simple math: more dollars printed out of thin air equals dollars with less value or purchasing power. Inflation has continuously depreciated the dollar’s value since we came off the gold standard in 1971 under Nixon.

Bottom line: The market is in digestion/correction mode, and risk is rising, so I reduced exposure to about 25% gold and silver (total) because that is where the money is going! Oil is down, so there is no fear of an imminent war. The Dow 30 Index is up, so there is no fear of a recession. Long-term rates have slowed their accent, so inflation is not accelerating. However, gold and silver are still in an uptrend. I am a trend follower, and the trend of the tech leaders that have led the market higher since the bull market began last November has rolled over, and most leaders are in downtrends. My rules and discipline have kept us in calm waters, and I expect gold and silver to glitter and shine. Wow! China’s central bank increased its gold holdings for 17 straight months. Grace and Peace!

You were bought with a price. So glorify God in your body. 1 Corinthians 6:20

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 IssacharFund.com. The Prospectus should be read carefully before investing. The Issachar Fund is distributed by Northern Lights Distributors, LLC., a member of 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 IssacharFund.com. 3301-NLD-04/22/2024

Dexter Lyons, Portfolio Manager
Issachar Fund (LIONX & LIOTX)
Buy Issachar Fund @ Schwab, Fidelity, or
Strategy, My Story, Biblically Responsible Investing (BRI)

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