FOX Business' Stuart Varney in his latest "My Take" argues that trillions of dollars being "turned loose" on an economy that is already "roaring" out of a pandemic is uncharted territory for the stock market.
STUART VARNEY: I'll bet you heard this over the weekend: 'When should I get out? Is it time to sell?'
It doesn't matter where you've put your money, you've probably done very well recently, and now, in this ‘melt-up' situation, you want to know how to protect your winnings?
Well, this is unique -- everything's gone up, a lot!
And in this situation, maybe you've had a case of F.O.M.O… Fear of missing out. When everyone's telling you how much they've made, you naturally want in. And if you're a newcomer to investing, you're not really familiar with melt-downs, crashes, or corrections.
Why not jump in? Everybody else is!
Those of us who have been around a long time, are grappling with this. We have seen melt-downs, crashes and corrections, and we know that at some point, things stop going up and start coming down. We just don't know when. And we don't know what sets off the selling!
Nobody, young or old, has ever seen so many trillions of dollars turned loose on an economy that's already roaring out of a pandemic! This is uncharted territory.
So what do you do? The classic advice is to sell half your investment, so you take your profit, but leave some money on the table. Pay the tax, but stay in the game.
The advice from many of our guests is: Dance if you must, dance if you will, but keep a close eye on the exit door! In other words, be prepared to get out fast.
Meanwhile, sit back and watch financial history, because, young or old, you've never seen anything like this before.