As mentioned in the McClintock update this morning I mentioned of possible changes coming to the Franklin, McClintock, and Pauling portfolios.  In addition to poor performance at least two of the Dual Momentum portfolios will see draw-downs due to educational withdrawals.  This will leave few assets in Dual Momentum portfolios.

While I need to check with the owners of the F, Mc, and P portfolios, there is a high probability all three will end up as Dual Momentum portfolios.  A good time to change is at the end of the second quarter or June 30th.

Lowell