Money Magazine Poll: 73% Say Dow Will Be Higher At End of 2010
73% think stocks are going up. I’m not going to comment about what I think, but I’m going to comment that this is a risky place for stocks with such a “bullish consensus”. If you want to remain in stocks and even are continuing to buy stocks, I would recommend having one eye on the exit. Or, perhaps transition towards more defensive stocks with dividends to protect on a potential correction. Or, buy some covered calls on your positions. Or, maybe sell off some of your most profitable positions.
If you go back to March 2009 and took the same poll, I wonder what the “consensus” was? Probably the opposite? Take it for what it’s worth.
Of course, this assumes that the invisible hand of Ben Bernanke and our other fearless leaders would actually allow a correction. But I digress…