Don't Step Into Cement Shoes

Anytime I mention that it is time to be cautious or that I am concerned about overall market levels, I can count on receiving several calls and emails that fit into a few themes.

The first theme will be bullish friends who do not hesitate to remind me that you cannot fight the Fed and that the only possible direction is up. My technical-minded associates will chatter endlessly about squiggly lines and oscillating thingies that indicate that the market must go higher. The last group will question my thoughts, as I have made it clear that I do not time markets, as I consider that a waste of my time and effort. This remains true, and I am not a timer. I will not short the market because I am nervous about the growing disconnects between economic activity and stock prices, but I will be awfully careful about what I buy....672 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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