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Originally Posted by 4444
so you'll buy on the basis of a 3.x% pull back (the difference between 13,500 and 13,000?) seems rather arbitrary
there will always be some worries, but i'm still very bullish for the overall economic picture - maybe because i'm an investor, not a trader, but corporate earnings are strong (worldwide economy, not US), and i invest on dips for the best of breeds that will be best of breeds for the next 5 years - having said that, yes there are things that concern me, and I monitor these things closely, if htey worry me way too much, i will get out of the market... but a general index level shouldn't dictate investments in individual stocks
I know, for a fact, that I can't time the market - did any of you time the Japan earthquake crisis (the answer is no, if you 'did' you were lucky that you exited when you did as you cannot see into the future of natural disasters)
maybe it won't make me a millionaire overnight, but i don't think that should be anyone's intention
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That's what my short term strategy will be. Just like stocks, I think Indexes, S&P and TSX have entry and exit points and most stocks correlate with the general markets. I think most of it is timing and guess work but that's how the world works for me. Sometimes your right, sometimes your not, but hopefully your right more than wrong.
A lot of advisors will tell you it's never about timing or security selection but I believe it is. When to enter, when to take your profits, when to hold cash, when to sell when somethings overvalued, buy when undervalued; it's all timing imho.
I'm not as bullish as most economists and investors. I have holdings that I'll probably have for the next 2 years and I have holdings that I "trade" on a daily (few days), weekly or even monthly basis or so.