This market is unbelievable. All three major indices closed at new highs on the same day this week. The last time this happened was in 1999, just before the dotcom crash which was followed by the 01/02 bear market.
Every investing instinct I have is telling me the market is too high, that this is too good to be true, and that a market top is near. A correction has to be coming soon.
My instincts are screaming, "TAKE PROFITS NOW!"
However, every sell instinct, except for one, since the 08/09 crash has been wrong. The only one that I acted on correctly was in August 2011, but then I stayed out of the market too long.
So I am going to do the George Costanza opposite. I'm going to stay in the market, for the most part. However, I will use the opportunity to reduce my holdings in company stock, sell some losing stocks, and take some profit in stocks that have advanced significantly.
Otherwise, I'm going to brace myself and hold tight. I may even hold my nose and invest more fund in equities should the market pull back.
For more on Reflections and Musings, check back every Saturday for a new segment.
This is not financial advice. Please consult a professional advisor.
Copyright © 2016 Achievement Catalyst, LLC
For more on Reflections and Musings, check back every Saturday for a new segment.
This is not financial advice. Please consult a professional advisor.
Copyright © 2016 Achievement Catalyst, LLC
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2 comments:
Hey, I just noticed that My Wealth Builder has been around for 10 years. Congratulations! PFStock (originally pfstock.blogspot.com ) will also celebrate a 10-year anniversary in a couple of weeks.
PFS
Thanks. Until you mentioned it, I didn't notice August 13th was My Wealth Builder's 10 year blogiversary. Congratualations on your 10 year blogiversary. There aren't many of us old timers still blogging.
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