I am usually very skeptical when people try to time the market. But I must confess, I have been trying to do it this week. As part of my new portfolio, I need to buy $11,000 of IVV (an S&P 500 ETF). That’s a big order for me. On Monday I saw the market going south, with IVV going below 128.5, and made a limit order for 128. I figured, if I could just catch the market on a 1% dip, I’d save over $100!
Fast forward to market close on Thursday, and IVV is at 131.30 (a 2% increase) after the Federal Reserved hinted at an end to interest rate hikes. Oops. Oh well, the trade is good-til-cancelled, so maybe tomorrow I’ll still catch it. Or not. See, this is why I need to just stick with mutual funds! =)
By Jonathan Ping | Investing | 4/20/06, 8:27pm