Stocks at Record Highs ... Where Now?

The stock market hit another record high yesterday.

The Dow is over $16,000 and the S&P 500 index has passed $1800. Both are up considerably more than 20% for the year.

Where now?

Well, my crystal ball says that for long term oriented savers and investors, the market's tendency is to go higher (it always does).

Accordingly, I recommend that you take a look at what I said ALMOST ONE YEAR AGO in a post dated January 27, 2013 which was titled "Stock Prices ... Up or down from Here? ... Long Term Up .... Short Term????.

So if you are a long term investor, it's a good time to reflect on what's happening and resolve anew to stay the course.

However, if you're a short term trader or "Nervous Nellie" type, now may be a good time to take some money off the table or keep your money in your pockets.

As for the direction of the market and the benefit of owning stocks for the long haul, the movement of prices from the "lower left to the upper right of the chart" very much remains in place, as it has for the past few hundred years.

Contrary to popular opinion, it's the only sensible thing to do.

Thanks. Bob.