In the chart below, is an example of the Dot-Com bubble drawdown in the S&P 500 from 2000-2003. As you will see, this period of time was also marked with a very long and strong downtrend line. In addition, you will see that the downtrend line was broken to the upside; however, could not hold the breakout and ultimately resolved itself back below the resistance line to eventually forfeit another -27% before finding the ultimate bottom. This is why we have been quite cautious regarding the breakout so far this year. I think we'll get our final answer in a few weeks to a month or so. We will either plan to add cash back in, or reduce equities thus raising more cash.