Thursday, December 20, 2012

Growing Caution Toward Stocks

The rebound in stock prices in recent weeks has pushed the market in general near overbought territory.  In addition, key sentiment measures reflect a sharp rebound in investor optimism.  

I recommend paring stock positions here, particularly in cases with sharp gains over the past six months.  I always like to have some cash available for buying opportunities, and now is a good time to begin to replenish cash after reaping significant gains.

Steve Lehman

 S & P 500:  1435

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