There is absolutely no doubt that both risk and volatility are rising in the financial markets. The higher the indexes rise, the sharper the intraday breaks. That is never a healthy sign for a bull market that has thrived for more than two years without a 10% correction.

The Crimean referendum should have been a yawn, not worthy of the 400 point swan dive that the Dow Average delivered last week. When the markets over react to the downside, and then rally back only on small volume, that is another excuse to pare back risk.

Some 45 years in the markets have taught me that whenever I have a great run, they will then suddenly reverse and bite me back. And let?s face it, the last two years have been spectacular, the Trade Alert Service nearly doubling the assets of loyal followers. It?s time to learn some humility, before the markets impose it upon you.

All of the recent US economic data has been good. But this isn?t about the data. It is all about market sentiment. And the current rumblings in Crimea are definitely not market friendly, pro global growth, pro risk ones.

If serious economic sanctions are imposed on Russia by Europe and the US, the impact on global growth will be negative, even if it is small. Traders are all about the next incremental change, not necessarily the magnitude.

So I am inclined to take small profits when they arise. No more hanging on for the last dollar. That was a 2013 play. Look for a market that grinds for days, and then concentrates all of the volatility for the week in a single day, like today.

Take the money and run, while it?s there.