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I am assuming that the market will start to get rocky once the banks start reporting. I do not believe in any euphoric fix of the sub-prime mess, and with the market at the heights it is now it's time for me to reposition for next week.
I am selling AAPL and RIG because both are winners, yet not part of my "core." I started this fund with the idea that resources were always going to be in great demand (fueled by China, India, and the Western countries) and concentrated on metals and oil.
I dabbled in technology only because I do that for a living, and have practical insight into many of these vendors, like VMWare and EMC.
Now it's time to get possessive and lock in some profits. I want to have 35% cash, the max allowed, as I expect if the market turns downward there will be some bargains when the "baby is thrown out with the bathwater."
If memory serves, three banks report next week; BofA, Wells Fargo, and Citigroup(?) - I think the combined revelation of the losses will take this jittery market south.
As always, luck to all of you - and here's hoping I am wrong.
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