My take is the market has been under pressure for a little while and the "FED" is just an excuse. The market is overbought and has a decent number of people wanting to take profit and/or cut and run. I've been selling things that are up, and things that are up and jumpy. I sold 1/2 my positions in 6-7 stocks this week. I even sold half my O, EPR, APU, PAA and all my VLO, and some others. I took my profits in WFC earlier this week. I am now glad I don't own that, but makes me look like Nostradamus. I only hold one stock that is down (PPL) and don't plan on selling that currently, but if it goes down to -8%, I'm out. My short term bond funds did not get a hair cut today. I hold no long term paper.
I bought IRT and SE lightly today. I own a little STOR and was looking for a breakthrough at around $31 to confirm and buy more. It didn't so I won't but it is a good company.
That said - who knows, I can't time the market. I just follow the crowd and the crowd is jumpy, and it was a distribution day today. The market didn't do the recovery thing at the end of the day. We need a few more. Rally will build again. Be patient (talking to myself)
