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How's your portfolio treating you today? So many things to consider in the market this week. Buy, hold, sell. Let's explore some of these together. Welcome to the Fletcher Friday Report. Today is Friday, August 21st, 2026. I'm typically an emotional investor. That's why I created Fletcher to help me be disciplined in all market conditions. Today we'll look at Fletcher's performance in this volatile market and compare it to the SP. Here we go. Before we get into specific numbers, let's talk a little bit about the broad market. Last week I mentioned the concept of the summer slump. Not sure it's a slump or is it. According to Yahoo Finance, August volume is actually up 10% compared to last year. So what does all this mean? That's what I asked Google, and the AI answer it gave me was sustained buying demand, active adjusting in funds, greater liquidity, which equals bigger swings, volatility around various economic reports. Yes, volatility. I think we could all agree on that one. Certainly we've seen this with Fletcher. Year to date, Fletcher is actually off its high in June. In June, we were at 205% for year to date, and currently we're at 134%. This is actual live data for 2026. Backtesting is actually from January 26 going back to 2018. July was quite a haircut, 26%. But that was after a three-month run where we hit 26%, 27%, 21%. So the first part of the year was definitely on the uphill. All this aligns with the historic data that we have from back testing. We typically are seeing two out of three positive months. So every three months, we'll have a negative month on average. So everything so far has been consistent with what we've been seeing both in backtesting and with live data. What do we do with all this information then? For me, I'm letting Fletcher do what it's designed to do, run its rules, stick to the plan. And I continue to remind myself, Fletcher is not a short-term play. Fletcher thinks beyond three, six, and twelve months. It's actually in the one to two year time frame that Fletcher really shows its strength. That's the plan I'm following. I say this each week: short-term time periods are not fair for judging many aspects of the market, including Fletcher. Fletcher is not designed for short-term, even though we often see impressive short-term performance. This week was not so impressive. Fletcher is actually at negative 7% for the week. The SP was down around one point. Since the first of the month, Fletcher is up over 6%, and the SP is right around 1%. Year to date, Fletcher is at 134%. The SP around 12%. And 12-month running, Fletcher is at 366%, and the SP is right around 20%. Keeping all these numbers in context, we always need to remember long-term is our friend. Fletcher is currently signaling five positions, six max at any time. The next signal will be September 1st. So we're currently in the August 1st signals. And these individual stocks are in and out of the news at times, sometimes staying under the radar. Oftentimes opening my eyes to opportunities I wouldn't have seen otherwise. The individual stocks are industry agnostic. So sometimes we'll see pharma, financial, energy, tech, etc. Currently we're very heavy in tech, and that's expected because that seems to be where all the growth and activity is. In a previous episode, I mentioned the name Nancy Tangler. She's with a firm called Tangler Laffer here in Nashville. In general, I like her outlook and her presentation. I seem to align with what she thinks. I recently saw her in an interview, and she mentioned that their firm likes to stick with the growth. That's basically the way Fletcher operates. Stick with the growth. Fletcher very much likes to go where the action is, where the movement and growth is. That does come with volatility, but the rules that Fletcher abides by have guardrails. So it does keep it from just chasing the wind. And so far, it's proving itself in my personal portfolio, as well as the live data that we've been tracking since January. That will do it for today. Thank you for listening. I hope you are weathering the market and its moodiness. To learn more about Fletcher, go to Fletcherinvestor.com. Have a great week, and let's connect again next Friday.