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| Stocks: Time to Sell! - Mar. 20, 2006 |
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Summary
To those who feel any discomfort with their current exposure to the stock market, the time has arrived to do something about it. Obviously, this does not mean add to existing positions!
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1110 ET
DJIA 11,275
S&P 500 1,306
NASDAQ 100 1,687
Over the years, I've rarely done something like this. However, I sense that we are at or near such an important inflection point, it is worth the risk of looking foolish. Moreover, I believe that if I should look foolish, that condition will not take terribly long to correct itself.
I suspect -- and strongly -- the stock market either is at or is very close to what will prove a major inflection point, and not one that will leave people in the dust on the upside. Everyone has somewhat different investment objectives, accompanied by varying thresholds of pain. But for people who place a high premium on the preservation of capital, I believe sales made at around current levels will hold them in good stead.
I've expressed a few thoughts of greater detail in this morning's "GRA Running Commentary & Data." I will be adding to them there and through additional missives in the period immediately ahead. However, I wanted to get this short piece out ASAP!
"GRA Running Commentary & Data"
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