Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Market Rockets Up 400 points. What now?

For those of you who didn’t jump in on Thurs and Friday, when the market tanked, there’s still hope.

Yes, the market was incredible today. European countries decided to form a $1 trillion plan to defend the Euro and that caused the Dow to jump 400 points. So what does that mean for you and your stock portfolio?

Well, if you’re already invested and thinking short-term, I would hold on to everything. At least, wait for a day where market drops (but again, keeping in mind why it dropped) before you consider taking profits. If the market continues it’s momentum upwards, you might as well ride it out so you can maximize your profits.

If you’re heavily invested and bought more around the 980 point drop last week, I would at least consider taking some money off the table and keep some cash around. You shouldn’t be 100% invested in stocks — you need to leave some cash in your account so that you can take advantage of days where the market drops 980 points! It’s never wrong to take profits!

If you’re not invested at all, I’d say today is as good as any to get in. There are still some great investment opportunities out there. Bank stocks are still as good as ever. The retail sector, though a bit more risky, are also interesting bets. Tech stocks are also performing well.

While I don’t normally recommend trading on the unprecedented volatility in the markets this past week, I think I would make an exception here. Irrational fears about Greece, a market “glitch”, and panic-sellers caused the market to tank excessively last week. I believe there still significant room to move up from here — at least, that’s what I see right now. But who know what will happen tomorrow or what news will break.

But just keep in mind that fundamentals in US companies remain strong and stability has come back in the global markets today. Let’s hope that for the time being, people remain rational about their investments. As always, do your own due diligence and happy investing!

Disclosure: No Positions