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I am very unsure of what to do. My stocks have went up about 18 percent in the last three months. I hear the sell in May and walk away and then I hear that does not work any more. I watched as GMCR went up and I thought I would not buy its up 10 percent, then 12 15 28 percent at the end of the day. I ended up selling my ED, SO, XOM,COP, JCI to the tune of 3/4 of my position in them. I am hoping I did the correct thing and just wait for a correction and buy back in. I like these stocks. But Many are at or near all time highs.
I think we are in the greater fool territory. I hope I judged it right. The only think I bought was WU at 15.93. It seems to be undervalued. I sold off all my Mutual funds in my Wife and my IRAs and am going to wait and slowly reinvest into stocks as they dip. I think its safe to say one way or another a dip will come. Or do you think I am the dip for selling now?
First of all, don't read anything into the price action of GMCR. It's a crazy stock with a huge short interest and you just saw the textbook definition of a short squeeze today. Stuff like this provides sober reminders to the risks of going short on any high volatility stock. Secondly get rid of the notion you should sell stocks because they are at our near 52 week highs. Stocks run once they pass those highs. The only people selling right now are people like you thinking this way. Once the cautious sellers leave the stock usually passes the high and sets new highs for awhile. The only thing which stops it at overall market weakness which leads big money to reduce holdings of best performing stocks. Wait until you see that before selling.
First of all, don't read anything into the price action of GMCR. It's a crazy stock with a huge short interest and you just saw the textbook definition of a short squeeze today. Stuff like this provides sober reminders to the risks of going short on any high volatility stock. Secondly get rid of the notion you should sell stocks because they are at our near 52 week highs. Stocks run once they pass those highs. The only people selling right now are people like you thinking this way. Once the cautious sellers leave the stock usually passes the high and sets new highs for awhile. The only thing which stops it at overall market weakness which leads big money to reduce holdings of best performing stocks. Wait until you see that before selling.
Same thing I was told when I said gold was too high at 1800. Now its 1440. I think the market it a bit hot and needs some cooling off.
Same thing I was told when I said gold was too high at 1800. Now its 1440. I think the market it a bit hot and needs some cooling off.
Well you aren't supposed to sit through a 20% correction waiting for a sign. Gold showed very clear signs of topping, no reason to lose more than 5-6% of its highs.
Well you aren't supposed to sit through a 20% correction waiting for a sign. Gold showed very clear signs of topping, no reason to lose more than 5-6% of its highs.
I never bought gold. I like the stocks I sold but I think the market has run up, and may run up a bit more, but it will correct.
I watched as GMCR went up and I thought I would not buy its up 10 percent, then 12 15 28 percent at the end of the day.
I was watching it too and had the same reaction. I didn't get in. I kept thinking, "There's no way price is going to keep rising at this rate much longer." But it just kept going and going. Crazy.
No one can predict the top. Price's will just keep going up, until they don't.
I don't follow GMCR, but the chart looks crazy. It looks like a tech stock from 1999, or Iomega or something. From $107 to $17 in a year and back up.
These kinds of stocks need the support of the overall market to go up. They usually re test recent lows to shake out the weak hands or people who jump on the moving train.
After reading several articles, many seem to think there is froth as they put it in the market. They seem to think when speculation is lead with things like Groupon and Yelp that the market needs to pull back. Too many chasing returns.
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