I don’t think we go lower for more than 3 days. However, in the event that I am wrong, I’ve decided to sell now, while I can, in order to raise cash. I cut losses on NIHD and booked a gain in HMC, effectively reducing my equity exposure to 85%.
I will be looking to reinvest the money when the coast is clear. Consider me to be a savage animal, lurking in the tall grass, waiting for an injured zebra to devour. There are so many delectable animals to eat. However, I prefer the ones who are weak and out of favor. I already have some stocks that are near 52 week highs and others, like ELLI, just sucking wind.
My next targets will be stocks that are still in favor, but only recently became subject to a most horrendous bout of profit taking.
I will provide the internet with such a list later, at my earliest convenience.