There's a popular saying within investor circles: "Sell in May and Go Away." It is meant to reflect the belief that the stock markets doesn't perform well during the summer months, as a lot of traders are away on vacation.
Personally, I do not subscribe to this saying. Statistics have proven that associating a specific period of the year with over- or under-performance is inconclusive at best. Some years it works, other years ait doesn't. A good example is last summer -- someone who went away during the summer 2009 missed out on the 10% run on the S&P 500 over the month of August.
But with the current troubles in Europe regarding Greece (and other countries on shaky financial grounds), one has to wonder. Are we due for a big correction? Will the worldwide financial markets be destablized again? Should we move to a more defensive position?
I obviously don't have answers to these question. All I can do is have a solid plan, and be ready to take advantage of any irrational weakness. Long-term wins thinking the race over short-term emotions.