"Rule #1: Never lose money. Rule #2: Never forget Rule #1."~ Warren Buffett
Today, I started to sell individual profitable stock positions, in anticipation of a stock market decline. Tomorrow, I will continue to sell to raise cash. Then, I will wait for a 10% decline to start reinvesting.
The only equities that I may purchase before a 10% decline are material stocks, such as Freeport McMoran, Cliffs Natural Resources, and Newmont Mining or precious metal ETFs.
Disclosure: We have long positions in Freeport McMoran, Cliffs Natural Resoures, Newmont Mining, gold ETFs, and silver ETFs.
For more on Strategies and Plans, check back every Monday for a new segment.
This is not financial advice. Please consult a professional advisor.
Copyright © 2013 Achievement Catalyst, LLC
Monday, August 26, 2013
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1 comment:
I have been selling too, but only with the help of stop orders. I also own Newmont Mining so as to diversify my stock holdings.
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