(06-19-2014, 08:05 PM)kayboy Wrote: I take some profits...
I don't want to buy at these levels...
I don't want to start a new position because as sure as I do, the market drops 30% tomorrow...
I'm a newcomer here and, not counting this post, I've posted to these message boards all of five times. So perhaps my advice won't carry much weight, but here it is anyway.
You're trying to time the market which, in my humble opinion, is a mistake. I attempted to do the same thing - after the "financial crisis", in 2011, when all the pundits on television were pontificating about the huge problems in Greece and how their problems would spill over to Portugal, then to Europe and "THIS COULD BE TROUBLE FOR THE U.S.", blah blah blah. I thought I was being savvy by moving a bunch of money from stock funds to bond funds in my IRA. And there it sat all through 2011, 2012 and 2013 - always waiting for the right moment to get back in. I missed out on a huge run. Big regrets.
My humble opinion is - if your time horizon is > 10 years, put your money in, buy stocks that are at reasonable levels, and don't sell again (unless of course, you find yourself in another Enron-type stock).