That’s right folks. You heard it here first! I started shifting my 401K out of Money Market funds and back into an S&P index fund over the past 24 hours. Of course, the NAV price is locked in at the end of the day, so that means any move is decided on the closing price of the day. That’s great news. Yesterday, I moved 10% from cash back into the market and today I moved 15% back into the market. Yesterday, I got a 35% discount on S&P stocks and today, I got 42% off the S&P sticker price. I hope that the ■■■■ thing drops to 50% and I will put more in. Keep dropping baby, it’s PURCHASE TIME!!! I feel like a girl walking around in Saks Fifth Ave with a 42% off anything in the store coupon!!!
Do I think that the market could drop further? Of course it could, but I’m not trying to call a bottom here. I’m just finding an entry point for which I feel like I am getting a super deal. I’ve put my personal bottom in at 8500 points on the DOW a long time ago, but I don’t dismiss the fact that 7500 isn’t too far away. If we hit 7500, then I will be even happier, because I’m dumping more money in!!!
Anyway folks, just wanted to let everyone know that I am active again!
You can keep your growth stocks, banks and homebuilders to yourself though! My money is going into an S&P tracking fund with a 0.03% management fee…
I should add that I don’t think that the market problems are over. Also, eventually we will announce an official recession. But how can you ignore getting stocks at 1998 prices?
I should add that I don’t think that the market problems are over. Also, eventually we will announce an official recession. But how can you ignore getting stocks at 1998 prices?
That’s right folks. You heard it here first! I started shifting my 401K out of Money Market funds and back into an S&P index fund over the past 24 hours. Of course, the NAV price is locked in at the end of the day, so that means any move is decided on the closing price of the day. That’s great news. Yesterday, I moved 10% from cash back into the market and today I moved 15% back into the market. Yesterday, I got a 35% discount on S&P stocks and today, I got 42% off the S&P sticker price. I hope that the ■■■■ thing drops to 50% and I will put more in. Keep dropping baby, it’s PURCHASE TIME!!! I feel like a girl walking around in Saks Fifth Ave with a 42% off anything in the store coupon!!!
Do I think that the market could drop further? Of course it could, but I’m not trying to call a bottom here. I’m just finding an entry point for which I feel like I am getting a super deal. I’ve put my personal bottom in at 8500 points on the DOW a long time ago, but I don’t dismiss the fact that 7500 isn’t too far away. If we hit 7500, then I will be even happier, because I’m dumping more money in!!!
Anyway folks, just wanted to let everyone know that I am active again!
You can keep your growth stocks, banks and homebuilders to yourself though! My money is going into an S&P tracking fund with a 0.03% management fee…
If you have been sitting on the sidelines the last 6 months, you’ve missed some of the easiest money of our lifetimes.
The trend is your friend. I would buy and sell with options for fun as PQ alluded to - if I had that kind of cash laying around.
Sell sell sell sell
They are driving it down further and further because it’s making them money. The market is easy to profit from when you know which way it’s going.
Luke 8:22-25
Yep. Can’t make money if the market is moving sideways. I haven’t lost a penny on puts in the last 2 weeks. In this market, trading options is a great way to maximize profit with little relative risk.
What are the tax implications to do this while I am still employed? If I am not mistaken, I have to pay taxes on the front end of my IRA. Also, with my retirement, I'm perfectly comfortable in an S&P index fund.
What are the tax implications to do this while I am still employed? If I am not mistaken, I have to pay taxes on the front end of my IRA. Also, with my retirement, I'm perfectly comfortable in an S&P index fund.
I have no idea, honestly. But you can always start up a new self directed IRA.
I’m pretty sure that for me to roll from a (pre-tax) 401K to a (post-tax) IRA that it will be taxed. I don’t need that right now. And I really don’t need another IRA right now. While the market sucks, I am focusing on paying down debt as quickly as possible! That’s a guaranteed return. But in the mean time, I’ll manage my 401K.
