Many investors are in love with their high dividend paying stocks and ETF’s and they SHOULD BE! 

Most of them have done really well over this year; Preferred Dividend ETF (PFF) is up almost 11% on the year, just barely behind the S&P 500.

On an extremely short-term micro basis PFF is breaking below support of a multi-month rising wedge pattern in the chart above.  At the same time the 500 index touched its 4/2/2012 highs and created a bearish wick yesterday, while breaking a rising support line.

Does this mean investors should sell PFF and other high dividend paying stocks?  Too soon to tell, yet the action in both of these does suggest protection of these values might be a smart plan of action to establish right now!

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past