"been told to do so" - by whom, the Illuminati? Talk about conspiracy... Yea, they may get that 5% pullback. Perhaps after a 20% afterburner!
He's an idiot. I'm not sure how some friends and family telling me that their brokers have told them to sell is a conspiracy theory. It's obvious the market isn't melting...but most investors like to capture 10-20%/year and when you've already done that with $5-20M, gaining another 3% or so for the rest of the year with no worries looks pretty attractive. Cheers bro.
This is getting childish, when it goes down here come the bears, when it goes up here come the bulls, I'm thru posting here.
Fair point but the same is true of the bears who generally say things like "I'm loading up on puts" without going into details.