No Moves This Week

When the market’s skyrocketing with no end in sight and you’ve already taken profits in every position you hold, it’s best to sit on your hands and just watch the sparks fly.

As always, I’ll use this weekend to update my Stock Shopping List to ensure I have price targets where I’ll want to start adding to my positions. However, there’s no rush to buy anything (resist the FOMO) because the stock market is, without question, overbought at this point.

Does that mean we’re due for a huge selloff?

Not necessarily. In fact, it’s possible that the market may just calm down at some point, and move relatively sideways while it rests before the next steam higher.

The trick is this – we don’t know what the market’s going to do next.

Until it takes a break or sells off, it’s a better idea to just grab the popcorn and watch where the market takes us from here.