November cool down
This year's solid September and October gains for the market as a whole makes it harder to expect more upward strength even with the encouraging economic numbers that have come out recently. For our accounts, this means taking advantage of cash holdings to wait and deploy into stocks that have not fully participated in the year's gains, including energy, healthcare and selected mid-caps. November also has been a month to begin easing out of some wining positions, usually in the form of selling covered calls at what would be our exit price, anyway. Of course, in an ideal world, we can put off gains until January, but we are watching the market closely to make sure wining positions stay that way, even at the risk of taking profits. After all, that is what you pay us for.
- posted by Jay @ 6:08 PM