Everything expensive? Not any stock that I own. Things like the Utilities Sector are expensive with PE 14, but in general the market isn't overpriced. 2 out of 3 companies that have reported earnings and revenue have beat. Interest rates will remain low. If GDP does what's predicted, the market should be higher at year end. Have I cut back on stocks? Yes, but not because of the new highs. I cut back because I owned too much stock and needed to rebalance. I will continue to sell through this quarter a little at a time so that I have cash for any possible summer selloff and cheaper prices.
Last week in Jan is generally bullish for the market. A strong Jan is a good sign btw. A bad Jan is a sell sign.
The only thing I'm adjusting my position is probably the pharma end of my portfolio. I may add to media, too.
I got out on the long side with the exception of Apple months ago. I got out of Apple last week on the dead at bounce. The only positions I hold are large short positions on NFLX and AMZN. It's becoming really hard to find value, and everyone seems to be bullish. After I close short positions on the two MOMO's I'm shorting in a few weeks I will enjoy the sidelines. Unfortunately, the Apple long trade won't be good moving forward, and I certainly wouldn't short it.
Nope, but then the two stocks I'm in are way oversold:
Also, I expect the market to continue its bullish run at least through April. This should be an overall strong year for stocks.
BTW, from what I've been reading, this is expected to be a year for stock picking, with low(er) correlation between individual stocks - unlike last year. So, pick the right stocks, it doesn't matter this year how the index does those stocks can have a strong year on their own. From that standpoint, it doesn't really matter where the DOW is at.
I have basically been out for the last year when I should have been in??? Can you believe that?? All the other years I bought #$%$ at $400, $300, $200, and then it went to $100 on me. Once I got all my money back, I was afraid to risk it again. It took me over 20 years to get it back. Now of course, the only thing I am holding is Apple and I am underwater on every share. What a piece of #$%$ this turned out to be. The idiot Cook needs to split this stock 10 for 1. What is the jerk waiting for, $200?????
I'm about ready. Especially since I saw three experts on CNBC saying its an ideal time for retail investors to get in because its going significantly higher. That was my que to short or get out.
can anyone explain how the indexes can be at multi year highs, but not many stocks are even seeing 52 week highs?? just a few examples, AAPL, VMW, APA, CAT, JOY, BIDU, CLF, and these are just that I follow, there are a zillion stocks that are not any where near highs, but yet the market can't be stopped from it's upward momentum. manipulation is running wild, unless you are trading S&P futures/options, can you really say that the markets should be up this high? come on, without the Fed in there buying we would not be anywhere near this level.