Sharp words of advice Sokol.
I remember back in 1999, when the Nasdaq was at a record all-time high (5000) and the dot.com bubble was about to explode, I liquidated 100% of my tech stocks...my largest holding back then was TXCC...a semi-conductor which I rode from sub-$3 to a high of $71....the company at the time didn't make much money but had a PE of 230.....ridiculous. All my friends thought I was crazy and the talk at every coffee shop and restaurant was about the Nasdaq and if you owned the latest and greatest.I sold everything. I took a heavy position in the oil and gas exploration sector when oil was at $10 a barrel. I had to wait 1.5 years, but man did those suckers pay-off.
I have sold a lot of my stocks a few weeks ago and only hold 2 stocks right now, but have a bunch of cash, just waiting. This market is going to sell-off. Only question is when it will happen. As with Anavex on the buy-side, I would rather be early,than late on selling this market. With such a large increase in past 4-5 years, the sell-off can be very painful and happen in a few short weeks. Pigs get fat, hogs get slaughtered.
-Fireman
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