Sell Now

If you took my advice back on Feb 22 to begin buying stocks, you’ve probably done pretty well. I have. Particularly on bank stocks. If you are actively trading, I am recommending that you sell now and take your profits. The Dow is at 8,000 and, in my opinion, it’s not going much higher before it begins to fall again.

After the next dip I expect even bigger gains in the second half of the year, but right now I think we’re headed for a swoon.

Of course, I could be wrong, but that’s what I’m doing.

If you have a genuine long-term strategy of buying strong dividend paying stocks and holding for 20 or 30 years, you’re golden. I wouldn’t buy any more right now, but wait for that next dip. I would suggest 6800 and downward as a long-term buying opportunity. Stock up (no pun).

And remember, I have no idea what’s going to happen. I am simply gambling on intuition and contraindication.

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One Response to Sell Now

  1. Matt Rafat says:

    I think it will go up a bit more before hitting some resistance:

    http://willworkforjustice.blogspot.com/2009/04/personal-s-target.html

    We’ll see who is right soon enough.

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