Jerry, over the past 40 years I have sold stocks and mutual funds after strong gains. Usually when I sell stocks it's because of miscaluated buys(always have stop-loss settings) or when stock have appreciated to set sell points. I sold Janus Worldwide after a very substancial gain as I did with TAREX. Market conditions do play a part in my decissions, be they buys or sells. I hold several stocks rather than having those invested dollars in  mutual funds........just seems to be some very beat up compaines that in my estimation offer value and TR that a mutual doesn't offer. I still rely on my MFs as core investments, but there are some real opportunites that beg investing if one has a 1-3 year time frame.

Take care

Tim