Mike Cintolo, editor of the Cabot Market Letter, says now is a great time to back off on stocks and let the market guide you as to when to get back in. The stock picker takes a balanced investment view, watching the fundamentals but not considering individual stocks to be in a vacuum away from the technical market. While he sees no reason for fear of a new bear on the horizon, he's become more cautious since April.
Cintolo says his cue to trim stocks was when he witnessed selling of the market leaders "on bigger volume" toward the middle of last month and the beginning of May. He isn't one to fight the big money as it exits. He'd rather sell his losers, trims his winners and wait out the selling from the sidelines.
The bull, in Cintolo's view, probably has many months to go in the big picture, but the nearer term is a time for caution. "We'll let the market tell us when it's time to get back in." Since the tape neither rings a bell at the top nor signs an all-clear at the bottom, whatRead More »from Now Is a Great Time to Back Off Stocks: Stock Picker Cintolo