So recently I switched investment plans and I decided to move from one Index fund to another. I liquidated a mutual fund this afternoon with plans to buy back in tomorrow when funds become available and keep sticking with my long-term buy and hold strategy. The only reason I sold today was to be able to go into a similar, more tax efficient fund.
Everything is going according to plan, as we had a nice green day today to make the sale. My fear is tomorrow is green and I decide to go against the plan and not buy back in and wait for a red day.
Many people are telling me we could have a lot of red days to come and the market couldn’t go much higher (than the 8% up we have already this year) so I have considered waiting till January or we go flatter on the year…But as many of you know, and as the saying goes, once you sell out, you can ever find the right time to buy back in… it is certainly tempting to sit on my hands though
So what would all of you recommend in my situation?
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