Selling JP Morgan Chase

| About: JPMorgan Chase (JPM)

I sold about 15% of my J. P. Morgan Chase into the strength yesterday. I actually like JPM quite a bit, and the stock does look cheap, but not as cheap as some of the other major banks; and I think its relative valuation may be getting a bit out of line.

JPM can be a bit more volatile than most of its peers. I am concerned that it may stumble badly if their earnings do not continue to set records. This sale is also part of my ongoing campaign to raise cash and reduce portfolio beta in preparation for a possible general market decline.

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