We have a new president and the market has been in rally mode. Time to celebrate with a few blue-chip stocks, right?
Well, that all depends on the stocks in your portfolio. Some of those beaten down blue-chip stocks that you have held on to in the hopes that this rally would come are more likely to sink you than they are likely make your portfolio soar.
The current rally is likely short-lived as everyone settles into the new possibilities in Washington.
This was the honeymoon the markets gave the new administration. The assumption is that with republicans controlling Congress and the White House, business will be able to operate more unfettered, more profitably and more efficiently.
But that doesn’t mean every business will prosper. There will always be winners and losers. And while the winners make the news, I feel it’s important to talk about the losers now. Below I will go into more detail why I have picked these seven blue-chip stocks to sell.