Don't Just Dive In

Big gap-up opens, like we saw Wednesday morning, always give me mixed feelings. It is great to ring the register on some nice gains, but new entry points then become quite difficult. I find them particularly hard to find when the folks in the media are jumping up and down predicting that stocks will now go straight up for the next year.

A move like this always produces performance anxiety, but I suspect this session is particularly bad in that regard. Not only is it the first day of the new year -- a time when everyone wants a good start -- but many are probably underinvested due to the uncertainty created by the "fiscal cliff" debate. I doubt many were well-positioned for a massive gap up on the first trading day of 2013....164 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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