Taking profit: Sell in May and go away may be good advice this year!

As I have said before, it is never wrong to take profit. While no one can time the market (and I certainly am not attempting to do that here) however, taking profit when you are doing well is simply good common sense, especially at a time when macro events may tip the scales against your investment strategy,

As you already know, I like commodities! I like hard assets and hold gold, silver, lithium, copper etc.  I believe that, in the long run, these are great investments. I am concerned at this time, about the strong head winds which seem to be rising at this time in equity markets, and so, today, I took some good profits off the table and sold off shares.

I have done this for the past two weeks in fact, taking profit in the following companies:

Royal Bank loses coveted Triple AAA credit rating leaving TD Bank as the only Canadian bank with a AAA rating by Moodys

FT.com reported today that Moodys has down graded the credit rating of Royal Bank of Canada (RBC)  from the coveted AAA rating to AA1.

This leaves TD Bank as the only Canadian bank to keep the coveted triple A rating, along with only a handfull of banks worldwide.