Is now a good time to sell stocks? Probably so. If you’re less than 15 years away from retirement and have heavy exposure to equities in your portfolio, consider moving some of that into bonds (or even cash).

But for those with a longer time to wait, a little rebalancing may still be in order. The main caveat is don’t go wild with it. It’s easy to get carried away trying to time the market perfectly. You will never get it right 100% of the time, and you can often be so far off that the losses wipe out the wins.

The stock market has been overvalued for 2-3 years now, depending on which method of valuation you believe. If you had gone short 3 years ago, that position would be decimated by now. In the long run, stocks will mean regress, but the long run can be longer than any of us can survive.

The moral of the story: don’t make a big, giant mistake that wipes out all the small wins you’ve steadily made along the way. Persistence + discipline = results.