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| Mike A:
If you can't pour kerosene on 10 grand and burn it, then you shouldn't bother. You would be better off doing something else with your money. |
| danny_galaga:
I've been using shares for over 20 years. Not an expert by any means, or even rich from it, but I'm comfortable with buying and selling ordinary shares |
| Zebidee:
x. |
| fallacy:
Today was S&P 500 ETF buying day. What had happened is that I had an old 401k with around 300k sitting in my Fidelity account invested into the S&P 500 that came with that account . For whatever reason they decided to move this account to another firm without telling me so that really pissed me off. I wanted it back in Fidelity so I called the other place and gave them my account number to my Rollover IRA and my Roth IRA with Fidelity. For some reason they said you had to wait a week before they could initiate the trade, the reason why I called them that day was because it was at a high. So I waited a week, sure enough the stock dropped, now my 300k is about 282k if I were to sell it then to bring it over to Fidelity. I was just going to have to wait and let it get to at least 300k again before I sold. Few more weeks later it got back up, I called them back and had them sell it at 302k. Now usually I would say never try to time the market, you never know the good buying and selling days and you usually end up losing money half the time. This time as I was waiting for my money to get to Fidelity something seemed wrong with the market, the sentiment seemed bearish. So I was like there is no rush to buy back in, let me see how this plays out. I waited a few weeks watched the stock prices drop by a few points here and there, this last week it took a massive dip. Checking the charts the S&P is now where it was at mid 2021. I will take my 23% on 300k win and bought back into the S&P 500. |
| Zebidee:
Congratulations on having a careful eye on the market. Trends and market sentiments are real things, and with some knowledge you can pick them. Especially for market indices like S&P500 where it is more difficult to get shaken out by pro day-traders. It will always have dips and peaks, but they will rarely go beyond certain predicable limits. There is a whole charting pseudo-science to help you pick these, and although is sometimes seems like hocus-pocus it actually works because of the human psychology factor. Over longer period S&P500 will continue to trend upwards, so in a way it doesn't matter when you buy in, but I say to hell with that. If you can save yourself $20k by buying smarter then do it :D |
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