Your approach to managing asset allocation is the process of adjusting the portfolio mix to benefit from a rise in the market and to gain protection against a fall in the markets. In this approach, as the equity market begins to rise, the investor would begin to sell bonds using the proceeds to purchase more stocks to take advantage of a rising market. As the equity market begins to fall, stocks are sold with the proceeds used to buy more bonds to protect against further losses. This approach to asset allocation is called: 

a. tactical 

b. dynamic 

c. market timing 

d. passive

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