For almost a year now the stock market has been on a virtually uninterrupted gain. The Dow, Nasdaq and S&P have all reached record highs and major blue chips have been pulling the pack forward. But have we come to the end of the road?
“We are not bullish on the stock market,” says Wells Fargo’s Christopher Harvey, the firm’s head of equity strategy, said Wednesday on CNBC’s “Trading Nation.” “We think that investors should start moving up the quality ladder.”
He adds “Hold on to your gains. You want to start protecting,” he added. “We think the best of the stock market is behind us not in front of us.”
This is a warning to take heed of. If your portfolio is composed mainly of higher risk stocks then now would be a good time to diversify. Looking into higher end blue chip stocks or mutual funds could help alleviate the situation.
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