This is a short post but I'm going to go ahead and write that I do not like the current risk/reward setup in the stock market..while I think stocks overall are still fairly valued at current prices, I think the risk to the downside is greater than a possible continued move higher. Today I've begun to take profits in some of my winners and I'm moving that money back to cash until we get more attractive lower stock prices (remember buy stocks when they are cheap and on sale and sell them when they move up in price). I'm also looking to sell out of some of the mutual funds I own as I also want to wait to own them at lower overall prices.
I'll write more later on the reasons why I've become increasingly negative on my outlook for stocks over the next month. Not trying to be overly negative, but I'm just trying to call it like I see it (and go with my overall gut feeling). Some of the things I'll write about is the punk consumer spending we've seen lately as companies such as Best Buy, Visa, American Express and Mastercard have shown in their recent earnings releases.
