Wall Street is through the roof. The gains may not last. Take your profits on Mechel (NYSE:MTL), Vimpel (NYSE:VIP), and Nortel (NYSE:NT). During one of the worst weeks in financial history, you have a chance at profits of over 30%.

Maybe socialism is not all that bad. Right now, the United States government effectively owns the nation’s major banks, mortgage lenders, and insurer. Even more, they just changed long-standing securities laws and financially backed the short-term cash market.

Washington’s action is making the heroes of a free-market economy scratch their skin off, but it is hard to deny the monumentally positive impact it is having on Wall Street. All major indices are through the roof this morning.

What will happen on Monday, next week, next year, or even next decade, nobody knows. The Treasury Department and the Federal Reserve have re-written the world’s economic rules. Wall Street was forced to throw out its old textbooks. Now it must sit back and wait as we write a new one.

Today may be a great day on the Street. But absolutely nobody knows what impact all of these knee-jerk regulations will have on the global markets in the future.

Some cash for the weekend

With near-zero certainty in the markets, I am not willing to take any undue risks. Nearly all my recent equity picks are way into positive territory. You need to lock in the gains.

Mechel (NYSE:MTL) is up by nearly 25%. Vimpel Communications (NYSE:VIP) is up by nearly 35%. And Nortel (NYSE:NT) is up close to 10% since I recommended it. And do not forget my third Russian pick, Rostelecom (NYSE:ROS) that I recommended selling for gains of nearly 40% yesterday. These are sizeable gains in just a few days.

If you followed my advice and bought shares of these companies earlier this week, sell them all.

The equities market is in a great mood today. Monday could be an entirely different situation. By then, we could have new rules, new economic laws, and an entirely different sentiment on Wall Street. The potential gains are much smaller than the potential losses.

Take your money off the table and stay tuned. I will have the next round of winners online in no time.

Source: Lock in huge profits: Sell Mechel (MTL), Vimpel (VIP) and Nortel (NT)