Over the last two days I have taken profits in PCP, LNDC, BHP, JCI, and ATW. I still consider them all good long term investments, but short term risks. How many financial shoes are yet to drop? They seem to be taking the entire market with them.
Perhaps the October massacre is going to be a little late this year. Since October 31st, the volatility has been way above average, but the overall direction appears to be sharply lower. November 1st and 7th both saw the Dow drop in excess of 360. As I said in an earlier blog, It is a good time to keep some cash on hand for bargains which may appear in the future. [more]