I have been substantially trimming some of my expensive holdings...

I have been substantially trimming some of my expensive holdings in the last few months. I didn't need any "stop losses" to do that.

Make no mistake, I cannot predict the future (perhaps you can).

If economic growth gains traction before the housing downturn does, it's quite possible markets will ramp up further, and that we perhaps move into euphoria. Who knows? Then my sales will look rather silly.

That's the investing caper for you. One needs to take as prudent a path as ones judgement allows. Sometimes the right path leads to a bad outcome, and sometines a bad path leads to fortune. The smart can look dumb, and the dumb can look smart.

That's how this cookie crumbles.