Mr. Market continued to throw down today, despite what many thought was a party nearing its end. This is a perfect example of becoming overly anticipatory on the upside. Mr. Market won’t stop riding the Mo until he’s good and ready despite what Joe investor may think is reasonable and sensible. 

Although we have a very strong and healthy market that is making all the right moves, and leadership in the proper areas, we’re starting to get that feeling that buyers are becoming too euphoric too fast. We are seeing some gunslinging action setting in, which may be indicative of a much needed rest. This feeling may simply be the result of seeing many stocks move into territory unseen and the P&L look mighty fine after only one week of action. Regardless of whether or not our concern that we have gone too far too fast is justified, it never hurts to practice prudent money management.  Selling even in strong markets is a great tactical tool.

We acted on this feeling in the Sharkfolio late today, dropping some laggards and adding to some positions we feel are poised for a move higher. Despite our overall optimism we have managed to maintain a healthy cash position when Mr. Market decides to take a breather and opportunities abound.

It’s tough not to be satisfied after a week such as this, so enjoy the weekend and be ready to rumble come Monday morning.