The Wall of Worry theme is playing out week after week. Look at the chart of the SPY, weekly time frame, and you can see that the possibility of continued higher action is not improbable. The risk of a pullback remains very high since the 50 week moving average has not been visited even once in 2013.
Great action if you own stock and ETF holdings. The wall of worry is being climbed, but we are not really scared.
We are, however, very much aware that the short term risk is increasing for a pullback, so we are pruning our holdings as we reach the typical turn points based on our analysis.
Watch the video and see if you agree.
Taking 10% of my stock and ETF holdings off today.
Uptrend intact, but do not want to risk it all over the weekend potential uncertainty that could impact the market Monday. Additionally, we really are due for a pullback.
Took some off, or closed the following:
Some great setups in my opinion, many with solid dividends.
Besides the stocks and ETFs covered in the video, I have my eye to start positions in or to add to :
NTI, LINE, EWA, TLP, NYCB, ARLP, RNF, T, BP, RAI, EWG, BLX, VZ, PM, BNS, SFUN, MRK, INTC, STX, FCX, HAS, JPM, PG, CAT, KO, PEP, PSX,
I sure do wish the market would make it easy to start new positions by selling off in a big way, but alas, that is not happening.
We continue to observe the market climbing the proverbial wall of worry. If you have stocks and ETFs that are performing, just let them work until the market actually does collapse, and stop worrying so much.
Some ETFs are at buy points. Watch the video and see if you agree.
A general market pullback seems in the cards for the next week or two, based on the indicators I am watching, but that should be a buying opportunity. Watch the video for some ideas.