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starbucks4ever (98.28)

Buying stage is over. It's time to hold

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April 09, 2010 – Comments (3)

I looked at my stock screen today and realized that the last stocks whose valuations one could justify have disappeared this week, and many of them are now even more expensive than they were in the summer of 2008. While the market could easily go still higher, buying at this point would be merely a speculation. So the buying stage is now over.

There is nothing left to buy. Everything is overvalued. 

3 Comments – Post Your Own

#1) On April 09, 2010 at 7:26 PM, Option1307 (29.76) wrote:

There is nothing left to buy. Everything is overvalued.

I wouldn't go that far, but I certainly have not been buying much lately (besides a select few) as I basically share your sentiment. In fact, I've started easing out of some of my long positions that I've held since early 2009, especially the idex funds/etc. as I feel the risk/reward does not favor the bulls at this juncture.

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#2) On April 09, 2010 at 11:17 PM, RainierMan (81.59) wrote:

Overall I agree. To tell you truth, I buy, take the quick profit, and move on at the first sign of weakness.

However, I also think the Fed found it's next bubble, and it's the stock market. I feel somewhat compelled to play the game. I'm willing to be in it, but carefully.  

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#3) On April 09, 2010 at 11:26 PM, starbucks4ever (98.28) wrote:

#3,

I didn't say "it's time to sell", mind you, just "time to hold". But another 10% rally - and I'll say "sell everything and leave the stock market to the crooks who run it". Going short is a different matter - I don't think I will even give anyone that advice under any scenario...

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