After what I'd call "churning" over the past week or so, the market has shown strength and has moved another leg higher. I still get a divided feeling out there. Many are still bearish due to macro events and extended valuations. Others are going with the flow and making money while its there to be made. And still others believe a full on bull market has taken off and this is just the start of it. I'm somewhere between group 1 and 2. I've held stocks and picked at a few positions, and haven't yet been selling into this strength (though I've been considering it). At the same time, I haven't added significant positions I plan to hold for an extended period of time. I'm definitely starting to subscribe to the "buy and sell" philosophy or active value investing. In other words I'm targeting specific stocks that are undervalued relative to the market, and selling them when I see a nice appreciation. I'm not falling in love with any positions.
I don't want to spend too much time on strategy, because I'd rather be talking about stocks. It will happen soon, I hope.