Category - Weekly Updates

Market Update: 02-22-21

The Issachar Fund (LIONX, BRI, ESG) is 98% invested (2% Cash) in 44 leading growth stocks on Sunday, February 21, 2021, with $59mil in AUM @ $13.51/shr.  I sold a few stocks before their earnings announcements last week to avoid any potential negative surprises.  Consequently, I would rather miss out on a gap up in price after earnings than sustain a steep loss in an earnings miss.  Very few growth stocks are blowing up after earnings, and I believe that is a healthy sign.  However, growth stocks did take a breather last week, but I think they may be ready to resume their uptrends. My job is to manage the risk, and I view this as a favorable risk/reward relationship, so we are all in for now. Yes, all my eggs are in one big basket (LIONX), but I am watching it like a hawk! (Please see performance table below, and there is no guarantee that any investment will achieve its objectives, generate positive returns, or avoid losses.)     

Yields on the US Treasury 20-Year Bonds have risen over 36% this year!  That means these Treasury bonds have lost over -9% in real value.  Commodity prices have increased over 12%, and Oil is up over 20%.  Gold is down over -6%, while the digital gold, Bitcoin, is up over 77% YTD! I believe inflation is rearing its ugly head, and we should pay attention to its impact on the economy and stock market.  However, the stock market does not seem to care because it is less than 1% from an all-time high.  If inflation is causing rates to rise and bond prices to decline, I would expect growth stocks to continue to shine as bond investors seek better returns.  I believe this disruption we are witnessing is being caused by the Fed’s excessive money printing, and I do not see them stopping anytime soon.  I will continue to do my best to maximize gains and minimize losses, so let’s enjoy the ride while it lasts.                  

The Fed increased its balance sheet last week by $115 billion to an all-time high of $7.55 Trillion!  Wow, they have really stepped on the gas this time.  I wonder if they see trouble ahead.  I also wonder why the Fed is allowing rates to rise.  Can’t they create more free money to buy more bonds and cause rates to fall?  Maybe that is what they are doing, but isn’t the market bigger than the Fed’s ability to control rates?  If that is the case, we could be in trouble, and things could get ugly.  However, I do not believe the Fed will go down without a fight, so get ready for them to crank up the printing presses even more.  The more money they print, the more some will likely flow into the stock market, lifting many growth stock boats.   

Bottom Line: Issachar is fully invested and doing well.  Growth stocks took a breather last week and might be ready to run higher along with the cyclical/value stocks (basic materials, machines, finance, etc.) that seem to be under accumulation.  I am encouraged to see a bit of rotation into the cyclicals as this may confirm this bull may have more room to run higher.  Cyclicals are at the top of my buy list as new money flows into Issachar.  So, Thank You for adding to your account and trusting me to steward your assets.  I believe the Fed has our back, which adds to my conviction level as I find new inventory to buy.  I trust that God is giving me the wisdom to manage His fund in a way that brings Glory to His Name.  God is Truth, and He will never leave us because He loves us unconditionally!  I pray this gives you peace.            

It is better to take refuge in the Lord than to trust in man.  Psalm 118:8  
The Issachar Board approved an institutional share class (LIOTX), and I expect it to be available soon at Schwab, Fidelity, TD Ameritrade, Pershing, and ETrade.

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Issachar is a Tactical, Alternative, Mutual Fund Actively Managed like a Hedge Fund.

Performance results highlighted below show that LIONX is outperforming both indexes YTD.

The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information current to the most recent month-end, please call toll-free 866-787-8355.  Total annual fund operating expenses are 2.56%.

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, which can be obtained by calling 1-866-787-8355 or visiting https://www.LIONX.net.  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 making an investment decision.  For more information regarding the fund, including current performance, please visit www.issacharfund.com. For more information on LIONX, please visit LIONX.net.   NLD Review Code: 4362-NLD-2/22/2021

Market Update: 02-16-21

The Issachar Fund (LIONX, BRI, ESG) is 93% invested (7% Cash) in 44 leading growth stocks on Sunday, February 14, 2021, with $59mil in AUM.  The indexes are stretched but not broken, and it appears there is still room to run higher.  I sold a few stocks that had exceeded my expectations, and I expect to add new positions this week.  I also added to a few existing positions that have been basing and ready to run higher.  This market seems to be firing on all cylinders, and I believe the risk in this market appears to be relatively low , so I plan to stay engaged and make hay while the sun is still shining.  This market will not always be this rewarding, and let’s not confuse brains with a bull market.  Sometimes it is easy to make money in the market, and other times it is hard not to lose money.  My job is to know what kind of market we are in and take advantage of the opportunities as I see them.  I attempt to manage the risk, and the market provides the return. (Please see performance table below, and there is no guarantee that any investment will achieve its objectives, generate positive returns, or avoid losses.)     

The Fed increased its balance sheet last week by $32 billion to an all-time high of $7.44 Trillion!  I sound like a broken record saying the Fed increased its balance sheet again last week, but that is the reality.  I believe the creation of excess money supply and credit can overcome higher taxes and more regulation, but there is a breaking point.  There will be a time in the future when the Fed will take its foot off the gas of liquidity, and  I expect risk will rise, but we are not there yet. For now, I am bullish and expect the rally to continue higher.  I believe a great majority of this excess liquidity that the Fed is creating finds its way into the stock market in the form of higher prices.  It will not always be this way, so let’s enjoy the ride while it lasts.       

Bottom Line:  Stocks have been in an uptrend, and I do not see that trend reversing any time soon.  If the trend reverses, I will do my best to lock in some gains and avoid life-changing losses.  Stocks with accelerating sales and earnings still appear to be under institutional accumulation, so that is where we are invested for now.  The Fed continues to have our back, and I do not see that changing any time soon.  However, my faith is in Jesus, and I trust that my Father is working all things for my good no matter what happens around me.  I pray that you experience the Love and Grace of The Father today.            

We know that all things work together for the good of those who love God, who are called according to his purpose.    Romans 8:28

Please let me know if you are interested in an Institutional Class of Issachar (LIOTX).

Fact Sheet  Positions Integrity Award PodCasts  FBI Interview  Blogs Webinar  My Story  Docs

Issachar is a Tactical, Alternative; Mutual Fund Actively Managed like a Hedge Fund.

Prospectus Objective: Seeks moderate capital appreciation consistent with capital preservation.

Email Joe if you are an Advisor wanting to know more about Issachar.

Performance results highlighted below show that LIONX is outperforming both indexes YTD.

The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information current to the most recent month-end, please call toll-free 866-787-8355.  Total annual fund operating expenses are 2.56%.

For the one week ending 2/12/21, LIONX returned 5.05%, with the IQ Hedge Multi-Strategy Index (IQX) at 0.72% and the S&P 500 Index (SPX) at 1.28%.  The year-to-date return for LIONX is 14.26%, with IQX at 2.54% and SPX at 4.94%.  For the one year ending 12/31/20, LIONX returned 26.19%, with IQX at 6.26% and SPX at 18.40%.  The 5-year annualized return for LIONX was 7.14%, with IQX at 4.26% and SPX at 15.23%.  Since inception on 2/28/14, LIONX has a 5.45% annualized return with IQX at 3.32% and SPX at 13.08%.  The maximum draw-down since inception for LIONX has been -9.87%, with IQX at -13.81% and SPX at -33.79%.  The monthly standard deviation since inception for LIONX has been 2%, with IQX at 1.51% and SPX at 5.17%.
Bottom line, LIONX has achieved great returns with reduced risk!   Praise Jesus!

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, which can be obtained by calling 1-866-787-8355 or visiting https://www.LIONX.net.  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 making an investment decision.  For more information regarding the fund, including current performance, please visit www.issacharfund.com. For more information on LIONX, please visit LIONX.net.   NLD Review Code: 4330-NLD-2/16/2021

Market Update: 02-08-21

The Issachar Fund (LIONX, BRI, ESG) is 95% invested (5% Cash) in 51 leading growth stocks on Sunday, February 7, 2021.  My conviction level went up last week as the leaders resumed their advance after a brief consolidation.  I recognized the bullish patterns and acted quickly to get reinvested, and we were rewarded.  In hindsight, it would have been better not to raise cash when the risk was rising, but that is hindsight, and the market does NOT always go up.  Last year at this time, the market dropped over -33% in 23 days thanks to COVID, but those fears seem to be abating. Issachar lost less than -4% in that same period, so I did my job and managed risk because riding through any bear market fully invested is not something I want to ever experience.  I have been managing risk since 1990, and I do not ever plan to buy and hold anything.  If I am wrong, I try to recognize my mistakes and take corrective action to make it right as quickly as possible.  Pride has no place in my portfolio.  Remaining humble and adapting to what is working in the market while trading with a disciplined edge has worked well over the years.  I am pleased with our year-to-date performance (below), and I believe there is still room to run on the upside.  It is never too late to do what is right. (There is no guarantee that any investment will achieve its objectives, generate positive returns, or avoid losses.)     

The Fed increased its balance sheet last week by $3 billion to an all-time high of $7.4 Trillion!  As long as the Fed keeps its foot on the gas of liquidity, this “free money printing” experiment will likely continue to lift many boats in the stock market sea.  A policy of higher taxes, regulations, and more red tape could have a dampening effect on the stock market, but excess liquidity seems to be the grease that keeps the stock market wheels turning higher.  The more the Fed keeps propping up the market with easy money, the more the market gets addicted, and the harder the fall might be if they pump the brakes and start contracting their balance sheet.  I believe the market is anticipating the trickle-up effects of another $1.9 Trillion deficit spending bill; hence the market is trading near an all-time high so let’s enjoy the ride.     

Bottom Line:  My perception of higher risk has subsided, and growth stocks are being accumulated, so Issachar is fully invested.  I am still finding stocks with accelerating sales and earnings displaying sound chart patterns, so the timing feels right, and the potential for more gains is promising.  I believe it is not too late to join the party, and there still may be room to run in this aging bull market.  However, if the character of the market changes, I plan to stick to my discipline seeking to maximize our profits and avoid life-changing losses.  I take my cues from the market and rely on the Wisdom of God to make all decisions.  I pray God’s Grace & Peace on you and your loved ones forever. (performance table below)            

Do not be anxious about anything, but in everything by prayer and supplication with thanksgiving let your requests be made known to God. And the peace of God, which surpasses all understanding, will guard your hearts and your minds in Christ Jesus.  Philippians 4:6-7

Fact Sheet  Positions Integrity Award PodCasts  FBI Interview  Blogs Webinar  My Story  Docs

Issachar is a Tactical, Alternative; Mutual Fund Actively Managed like a Hedge Fund.

Prospectus Objective: Seeks moderate capital appreciation consistent with capital preservation.

Email me if you are interested in a lower expense Institutional Class of Issachar (LIOTX).

Email Joe if you are an Advisor wanting to know more about Issachar.

Performance results highlighted below show that LIONX is outperforming both indexes YTD.


Bottom line, LIONX has achieved great returns with reduced risk!   Praise Jesus!

The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information current to the most recent month-end, please call toll-free 866-787-8355.  Total annual fund operating expenses are 2.56%.

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, which can be obtained by calling 1-866-787-8355 or visiting https://www.LIONX.net.  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 making an investment decision.  For more information regarding the fund, including current performance, please visit www.issacharfund.com. For more information on LIONX, please visit LIONX.net.   NLD Review Code: 4276-NLD-2/8/2021

Market Update: 02-01-21

The Issachar Fund (LIONX, BRI, ESG) is 26% invested (74% Cash) in 13 leading growth stocks on Sunday, January 31, 2021.  Many LIONX stocks came under heavy selling pressure last week, so I reduced our risk exposure by selling stocks that did not meet my expectations.  I believe the stock market risk level has risen to a point where the risk is slightly greater than the potential reward.  If our remaining stocks fall out of favor, I will likely sell all positions and sit in cash until my perception of risk declines.  My focus is on the indexes and leading growth stocks, and they are telling me that risk is rising.  There is no way to know if this is a minor pullback or a major correction, so locking in some gains is not a bad strategy.  I am pleased with our year-to-date performance and I plan to maintain our lead.  (There is no guarantee that any investment will achieve its objectives, generate positive returns, or avoid losses.)                       

The S&P 500 index lost 2% on Friday as it traded down to its 50-day moving average (DMA) on above-average volume.  The last time the index touched its 50-DMA was on October 26; then, it dropped another 3.75% in two days.  Who knows what will happen this time, but risk is undoubtedly elevated, so caution is warranted.  I believe the Fed will do its best to keep the markets liquified, and that could be enough to kick the can down the road. However, the market is bigger than the Fed, and if the market thinks we are headed for a recession, this could be the start of the mother of all bear markets.  I have not sold any stocks short (betting that the price will decline) in over 18 months, but it is a tool I have in my toolbox should we enter a bear market.    

Bottom Line:  Risk has been rising, and the market has come under heavy selling pressure, so cash has been a good place to be.  Short selling and short covering have caused a lot of volatility recently, so maybe it will take a little more time before the uptrend can resume.  However, I am carefully observing the markets and will do what is necessary, seeking to maintain our edge over the indexes.  The lights started coming on last week, so maybe it is time to leave the party before everyone rushes for the exits.  When I am stuck and don’t know what to do, I ask God for Wisdom, and He always provides.  May God’s Grace & Peace be with you today!       

If any of you lacks wisdom, you should ask God, who gives generously to all without finding fault, and it will be given to you.  James 1:5

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LIONX is a BRI/ESG, Tactical, Alternative, Mutual Fund Actively Managed like a Hedge Fund.

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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, which can be obtained by calling 1-866-787-8355 or visiting https://www.LIONX.net.  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 making an investment decision.  For more information regarding the fund, including current performance, please visit www.issacharfund.com. For more information on LIONX, please visit LIONX.net.   NLD Review Code: 4201-NLD-2/1/2021

Market Update: 01-25-21

The Issachar Fund (LIONX, BRI, ESG) is 92% invested (8% Cash) in 47 leading growth stocks on Sunday, January 24, 2021.  We have been rewarded for taking risk, and growth stocks still appear to be under accumulation, so I did more buying last week.  My conviction level is high, and I expect to get more invested this week.  Some of our growth stock leaders from last year are taking a breather, while new leaders are eager to fill that position.  I am focused on where I believe institutional money is flowing, and LIONX is primarily positioned in these industry groups: software, medical, chips, and energy.  I do not fall in love with any stock or industry unless it performs as I expect, then I will hold it until I find a better investment, or it disappoints.  Stocks with accelerating earnings and sales appear to be in favor, so that is where we are for now.  When growth investing goes out of favor, and we are no longer compensated for taking on that kind of risk, I will look for a better home for our money.  If my perception of risk gets too high, I plan to sit on the sidelines in cash as we did in the COVID Crash last February.  LIONX can go where the action is and step aside if I do not like the action. (There is no guarantee that any investment will achieve its objectives, generate positive returns, or avoid losses.)                   

The Fed fueled the fire by increasing its balance sheet $81 billion last week to an all-time high of $7.4 Trillion!  Keep in mind, the Fed’s balance sheet was only $4.1 Trillion last year at this time.  That means the Fed almost doubled its balance sheet by creating money out of thin air, and some of that money is being used to bid up stock prices.  As long as the Fed can expand its balance sheet, I will likely remain very bullish like I am now! I do not know how long we will be allowed to “print” our way out of trouble, but the longer we “kick the can down the road,” the harder the fall will likely be.  I am still dancing at the stock market party, but I am always dancing close to the door.  When the “lights” get turned on, or the tide flows out, we might get to see who has been swimming naked.  Now that will not be a pretty sight.  Until then, I plan to stay at the party as long as we have fun making money.   

Bottom Line:  Growth still appears to be in favor, and LIONX is being rewarded for taking risk, so I am an optimistic bull today!  I do not see any signs of an imminent decline, but that could change tomorrow, and I reserve the right to change my opinion.  The Fed has stepped on the gas of liquidity, and some of that new money is finding its way into our growth stocks.  The chart patterns are improving, and it feels like the market wants to continue trending higher.  The junk bond uptrend is telling me that investors still have an appetite for risk.  The major indexes are stretched from their averages, but I believe they can stretch a little more before they break.  Gold and Bitcoin do NOT look attractive to me.  No one knows how long the bull market party will last, so let’s continue to dance and have fun; however, we will always dance close to the door.  I plan to leave the party before the lights come on.  Jesus is the Light of the world!  God is Love, His Grace is sufficient, and His Mercies are new every day!  I pray you have a Blessed Day!         

Again Jesus spoke to them, saying, “I am the light of the world. Whoever follows me will not walk in darkness, but will have the light of life.” John 8:12

Fact Sheet  Performance & Top 10 Award PodCast  Interview   Blogs Webinar  My Story  Docs

LIONX is a BRI/ESG, Tactical, Alternative, Mutual Fund Actively Managed like a Hedge Fund.

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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, which can be obtained by calling 1-866-787-8355 or visiting https://www.LIONX.net.  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 making an investment decision.  For more information regarding the fund, including current performance, please visit www.issacharfund.com. For more information on LIONX, please visit LIONX.net.   NLD Review Code:  4136-NLD-1/25/2021

Market Update: 01-19-21

Subject:  Leaders Under Pressure!     But I Am Still Bullish!

(Fact Sheet)  (Performance & Top 10 Stocks)  (NACFC Integrity Award)

The Issachar Fund (LIONX, BRI, ESG) is 53% invested (47% Cash) in 37 leading growth stocks on Sunday, January 17, 2021.  LIONX just completed its best ten market days of performance ever!  Consequently, I harvested some profits last week as many leading stocks came under selling pressure.  Prices got a little extended as investors piled in, but I am still bullish.  I do not see a character change in the leaders, just a possible pause and digestion of gains before the next potential move higher.  It is normal and expected to see leaders take a stair-step approach higher or maybe three steps forward and one step back, but I do not believe this is the start of a major decline.  On Thursday, I sold 70% to lock in some profits and bought back 20% on Friday as many growth stocks offered attractive secondary buy points.  I plan to get more invested as I find cheaper entry levels in stocks that meet my fundamental and technical criteria.  I am seeking stocks with accelerating earnings and sales and double-digit earnings estimates for next year that appear to be under accumulation.  It is not rocket science; I believe it makes sense that investors looking for growth would want to invest in innovative stocks with healthy fundamentals and technical chart patterns. That is what I am investing in for LIONX shareholders at this time.  When growth stocks go out of favor, and they will, I plan to shift my focus to where the market is rewarding investors for taking risk.  If the market is not rewarding investors for taking risk, I plan to sit in cash until I find the next opportunity.  Growth still appears to be in favor and has been rewarding us for taking risk, so that is where we are today. (There is no guarantee that any investment will achieve its objectives, generate positive returns, or avoid losses.  For more information about the Fund, including current performance, please visit www.issacharfund.com/performance.)                   

The Fed dropped its balance sheet by a small $850 million last week, which does not concern me!  I do not see a significant Fed easy money policy change in the cards anytime soon.  The Fed still appears to be on our side, adding liquidity to the market buying bonds attempting to keep rates low.  However, 10-year treasury yields have risen over 19% so far in 2021!  This does concern me because it may imply that the Fed’s efforts to keep rates low is failing.  If the Fed’s stated low-interest-rate policy is now allowing inflation to creep higher than they would like, then they may have to raise rates sooner than everyone is expecting.  I do not put a high probability on that scenario, but I am observing.  The Invesco Commodity Index ETF (DBC), which tracks the prices of oil, gas, copper, corn, etc., is up over 20% since October 30th.  I believe the Fed may be forced to curtail its balance sheet expansion experiment if inflation appears to be getting out of control.  Creating money out of thin air with nothing to back it except for the US treasury’s full faith and credit could be an accident waiting to happen.  I hope it does not happen in my lifetime, but I believe it could end badly for many uninformed investors.  I love what I do, and I plan to stay informed, actively managing risk seeking to avoid any life-changing losses for all LIONX shareholders.                 

Bottom Line:  Leading growth stocks have bent a little, but they do not appear to be broken as many are digesting recent gains and resting near key support areas.  I plan to increase exposure to growth stocks as I find proper buy points.  I believe the Fed will do whatever it can to keep rates low and inflation in check, but there is always a breaking point where they could lose their grip.  Gold is down over -4% YTD, and Bitcoin is up over 22%, so why are investors dumping physical for digital.  It is fascinating to watch all the bad things that are happening and want to run for the hills but fear NOT!  Fear is NOT from God.  I put my faith in God who knows tomorrow, and I believe He is working ALL things for my good. 

For God gave us a spirit not of fear but of power and love and self-control. 2 Timothy 1:7

Let us then with confidence draw near to the throne of grace, that we may receive mercy and find grace to help in time of need. Hebrew 4:16

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LIONX is a BRI/ESG, Tactical, Alternative, Mutual Fund Actively Managed like a Hedge Fund.

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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, which can be obtained by calling 1-866-787-8355 or visiting https://www.LIONX.net.  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 making an investment decision.  For more information regarding the fund, including current performance, please visit www.issacharfund.com. For more information on LIONX, please visit LIONX.net.   NLD Review Code: 3085-NLD-1/19/2021