text: If you have a strong stomach for $100 price fluctuations in a day (that's $10,000 on 100 shares), you can buy something like Google.\n\nBut first, what is your definition of Long-Term? If you had bought anywhere around the 2000 high in the stock market, you would still be waiting to get even after six years, and wouldn't mind waiting another seven years to make a profit if you are truly a "long-term" investor.\n\nThe "Buy-and-Hold" strategy really doesn't hold water if you consider it depends on when you "buy." You might go 25 years without a profit, if history is any guide. But if that is your deal, then go for it.\n\nOtherwise, you have to consider that the Dow is again approaching that all-time historical high set in Jan 2000 at 11,721. Looks like a Double Top to me, but some people say we could double that again. Logically, this is one of the scariest markets I've ever seen in two decades of watching it; just pick something that is stable, anything. Doesn't exist, does it. Anything could send this market over the edge to the great void. But hey, it might double too, who knows. \n\nFor most people, the name of the game is capital preservation. You don't invest when the market gets too risky or too frothy or is nearing a market top or an old market top, or when the market is overpriced, or unstable, and all of these things are true today. There really is a time when cash is King. That 1.5% CD is going to look pretty good when everyone else is cryin' in their beer about losses. Or the market could just go sideways to work off the excesses, but either way, you're safe if you're out. Wanna throw the dice, go to Vegas.\n\nIf you wish to research the “Buy and Hold Strategy” further, or perhaps trade yourself, I recommend two book titles. One is called "Which Is Better, Buy-and-Hold or Market Timing?" The other is "Do You Have What It Takes to Be a Market Timer?" They will give you plenty to think about.