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<\/a>A friend of mine called me last week and asked what I thought about the current stock market<\/a> action.<\/p>\nI asked why, and he replied that he has been making tons of profits and wonders what he should do. This is a question I get asked a lot, and while my answer may be boring, it\u2019s always the same: this is not a normal stock market and you are making easy money, so enjoy it.<\/p>\n
But then there\u2019s always the question of whether to add to positions and take advantage of additional market gains. That\u2019s because the Dow is headed toward 60,000 and the Federal Reserve is going to let the money presses go on printing. (See \u201cWhy Dow Jones 30,000 Will Become Reality; But What You Should Know First<\/a>.\u201d)<\/p>\n Of course, I\u2019m being a bit facetious. I\u2019m bullish at this time, based on the charts and my technical analysis. At the same time, while the issues in the eurozone and China are not hot items, there is still risk in these regions that could provide some challenges to the stock market.<\/p>\n Look, I told my friend to enjoy what the market has given him; by this, I mean take some profits and enjoy the fruits of your labor. The last time money was so easily made was 1999, and you know what happened soon after. I\u2019m not saying the same will occur now, but I do believe you should reap some of your rewards. I told my friend to take some money off the table and buy something for himself and his family.<\/p>\n \u201cTake a vacation,\u201d I said.<\/p>\n \u201cI would miss the gains to be made in August,\u201d he responded.<\/p>\n To which I replied by noting that the stock market was likely to be flat in August, so he could enjoy his vacation and there wouldn\u2019t be much he\u2019d miss.<\/p>\n Still worried about the economy? Become a charter member of DAILY PROFITS As a trader, the key is to build your asset base so you can make more money on better trades in the stock market. Yet at the same time, you also need to be prudent and absorb some of the gains. The stock market has risen so high so far that I firmly believe there will be a buying opportunity<\/a> on the horizon. I can\u2019t tell you when and can\u2019t guarantee it will happen, but as a trader, sometimes you need to bet on the sure thing\u2014and right now, that\u2019s the stock market\u2019s current record highs.<\/p>\n My view is that, based on the advance so far and my analysis, the stock market cannot simply continue to move higher at the same rate it did from January to July. That is, unless you feel the Russell 2000 will return 40%. But I simply doubt that. I think there\u2019s a downside risk of about 10%, especially when we find out the country\u2019s gross domestic product (GDP) growth will remain somewhat sluggish.<\/p>\n So as I said to my friend, take some money and enjoy yourself. Life is short and you can\u2019t take your money with you when you leave.<\/p>\n
\n<\/em>and you could…TRIPLE YOUR MONEY IN A MONTH!<\/strong><\/span> Learn how here!<\/a><\/strong><\/p>\n<\/div>\n<\/div>\n