The US market, especially NASDAQ, has been on a roll recently after the dovish Jackson Hole speech of Powell. Some of my US tech stocks and ETF gains have increased along with the rally. Yesterday, I decided to take some profits off the table. Even if the market trends higher after that, my automated monthly investment plans should ensure that I can still benefit from further gains. Otherwise, a downward trend in the market means that I get to dollar cost average downwards on my existing positions.
I know the argument is that I should let my winners run. The last time I did that was with my Chinese tech stocks and ETF earlier in the year (didn’t take any profits). They crashed after the regulatory environment changed and I didn’t react quickly enough. Yes, I had the opportunity to average down on my Chinese tech stocks and ETF holdings....