Stocks closed lower again yesterday with the tech-heavy Nasdaq leading the way.

Rising bond yields are again being pointed to as weighing on stocks as some worry that future inflation could cause the Fed to raise rates sooner rather than later.

But it's worth repeating that Fed Chair Jerome Powell has previously said rates are likely to stay near zero for the next 3 years, and just last week, in testimony before Congress, he essentially said that the Fed has no plans to raise rates anytime soon, and that their asset purchases will continue for the foreseeable future.

In fact, he expressed more concern over the lack of inflation than inflation rising.

I believe what we are seeing is just normal profit taking and an ordinary pullback taking place.

Stocks usually pull back about -5% roughly 3-4 times per year. (A pullback is defined as a decline between -5% and -9.99%.) So it's quite common.

There could also be some unease over stimulus talks. While Congress has said they are determined to pass something by March 14^th, which is when millions will begin losing some of their extended federal unemployment benefits, nobody expected last year's bill to drag on forever either.

In the meantime, the economy is doing well. The Atlanta Fed is estimating Q1 GDP to come in at 10.0%. And other forecasts have full-year GDP growing at the fastest pace in 38 years!

And with virus case counts dropping, more people getting vaccinated, and more and more big cities and states loosening restrictions and allowing business to open, we should see big pent-up demand unleashed.

That's bullish for the economy and the market.

So make sure you're taking full advantage of it.

On a separate note, if you're looking for new stock picking ideas in an industry poised for historic growth, be sure to read our latest article on the booming Marijuana Industry.

These stocks are definitely more speculative in nature. But the number of companies currently offering, or are slated to offer cannabis-related products is growing. This is no longer just about investing in pot growers. It's also about consumer products, drinks, food, medicine, and more. And with marijuana sales legal in Canada, 33 states, and D.C., it's only going to get bigger.

To learn more about this explosive industry, be sure to read our latest commentary...

Investors: The Marijuana Boom Is Now

Best,