Double Dip Recession?

Some of the investor asked me about the double dip recession few weeks ago. He said it make him worry whether should he take profit now. He told me he is holding WFC, BAC and LVS.

This is what i told him a few weeks back:
1. i am not the economist to predict double dip recession. and i do not know when is dip recession.
2. i do not like speculation, it make me very emotional and can't make my judgement properly.
3. i am looking at long term. What i understand now is DJI at around 10400 pt and there is a still huge room for appreciation vs DJI peak's at more than 14000 pt.
4. you are buying a good company like WFC which you should not worry. you should be happy to hold those good company. WFC and BAC are in my portfolio as well.

He replied, "but there is no fundamental, there will no any other stimulas package."
"If you are really not comfortable, go into analysis, sell with the trend to take profit.", i told him.

But today yahoo's new headline: Obama warns of a 'double dip' recession.
http://news.yahoo.com/s/ap/20091118/ap_on_re_as/as_obama_economy

Some other new: Dubai debt fears hit world market hard.
http://finance.yahoo.com/news/Dubai-debt-fears-hit-world-apf-3624614071.html?x=0&sec=topStories&pos=2&asset=&ccode=

Dollar hits 14-year yen low amid Dubai debt fears
http://finance.yahoo.com/news/Dollar-hits-14year-yen-low-apf-3450592897.html?x=0&sec=topStories&pos=3&asset=&ccode=

ehm.... well.... are my buy hold strategy not working for double dip recession? Frankly speaking, i do not know. But i will continue hold those stocks which are already in my portfolio. And i really happy to hold those company. Because, i know that those company are improving thier biz operation. They will get out from the trouble. The CEO is doing their job to improve thier biz.... One thing, i trust those company. American has proven in thier history for 200 years that they have the talent to improve thier country and make it better and better country.

one last thought, i would like to restate what warran buffet's qoute "Be fearful when others are greedy. Be greedy when others are fearful."

i will continue hold. how about you?