Sell into it

Ended 2007 with a gain of 9.9 percent, the worst since '03. I was up about 15 percent at midyear but didn't see the financial meltdown. Best stock was Apple, followed by Southern Copper (PCU). Worst was Citibank.
2008 has started extremely poorly as the market seems to think a recession is in the offing. Not sure that's true, but the cyclicals, the materials and the techs, which did so well last year, have turned sharply lower. I think any rally will have to start with the financials, so I've been selling in an orderly fashion in the early days.