Time to Adjust, Not Sell Out
People are more worried here than they let on. That's my take. I think that people believe that we shouldn't be up for the year or that we should give back much of what we have made, because Europe has suddenly gone awry, China is reining in its real estate market, and sequestration is going to ding us.
Look, we've had a huge run. We have a lot of parabolic charts. Earnings season is over, and now we are stuck with macro such as the horrible Philly Fed number coupled with old Fed minutes that sound particularly wrong-headed to some. As I wrote early this morning, the simple thing to say is "Sell everything." I heard someone actually say it today....420 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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