Profit taking today

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DoingHomework
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Profit taking today

Postby DoingHomework » Thu Sep 13, 2012 1:04 pm

Well, I took advantage of the post QE3 rally to take some profits! I sold more than half of my "total stock market" funds. Some was switched to tax free bonds but most I'm holding in cash to have for rebalancing at the end of the year. That money has gone up a lot the last couple of years, far above what I expect over the long term so I'm reasoning it won't continue. It's better to take some money off the table.

Hopefully I'm dead wrong and everything keeps going up from here!

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Re: Profit taking today

Postby Bichon Frise » Thu Sep 13, 2012 1:37 pm

didn't even pass my mind. just rebalanced the other day...
Bichon Frise

"If you only have 1 year to live, move to Penn...as it will seem like an eternity."

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Re: Profit taking today

Postby peachy » Thu Sep 13, 2012 1:41 pm

I thought about taking some profits, but I'm in for the long haul. Do something fun!

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Re: Profit taking today

Postby Tightwad » Thu Sep 13, 2012 2:35 pm

I considered it too but I'm with Peachy. Long haul for me.

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Re: Profit taking today

Postby DoingHomework » Thu Sep 13, 2012 2:55 pm

Yeah, I'm in for the long haul too. But I am also trying to transition to a larger bond allocation since I'll probably retire in about 3 years. I've been looking for a time to make the move and today seemed like a good time. I'm not like most people here in the sense that I have nothing at all against market timing. I do think it is very difficult to do but I'm not opposed to taking advantage of a gift like today.

As for having fun...that money definitely ain't for spending...yet!

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Re: Profit taking today

Postby VinTek » Thu Sep 13, 2012 5:22 pm

All I did was hold off on a previously planned purchase today.

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Re: Profit taking today

Postby Tightwad » Thu Sep 13, 2012 6:02 pm

DoingHomework wrote:Yeah, I'm in for the long haul too. But I am also trying to transition to a larger bond allocation since I'll probably retire in about 3 years. I've been looking for a time to make the move and today seemed like a good time. I'm not like most people here in the sense that I have nothing at all against market timing. I do think it is very difficult to do but I'm not opposed to taking advantage of a gift like today.

As for having fun...that money definitely ain't for spending...yet!

In that case, your timing was probably about the best you could ask for.

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Re: Profit taking today

Postby DoingHomework » Thu Sep 13, 2012 6:24 pm

Tightwad wrote:In that case, your timing was probably about the best you could ask for.


You think? I hope I was early and he market keeps going up and up. What I sold was just a part of what I have.

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Re: Profit taking today

Postby Tightwad » Thu Sep 13, 2012 7:37 pm

DoingHomework wrote:
Tightwad wrote:In that case, your timing was probably about the best you could ask for.


You think? I hope I was early and he market keeps going up and up. What I sold was just a part of what I have.

Oh! I thought that was most or all of it. Nevertheless, I think you did the right thing.

To be honest, my gut tells me that this little market spurt won't last much longer. Too many black marks & not enough fundamental reform in Europe for a long term turnaround. Political parlor tricks ain't gonna cut it.

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Re: Profit taking today

Postby Bichon Frise » Fri Sep 14, 2012 10:35 am

mayhaps the door is still open for today....
Bichon Frise

"If you only have 1 year to live, move to Penn...as it will seem like an eternity."

avocado wrote:Good to see you back, I was starting to miss your incisive commentary!

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Re: Profit taking today

Postby DoingHomework » Fri Sep 14, 2012 12:30 pm

Bichon Frise wrote:mayhaps the door is still open for today....


Just a crack and seems to be closing slowly...

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Re: Profit taking today

Postby Bichon Frise » Fri Sep 14, 2012 1:45 pm

here's to another door next week! and the week after that! and the week after that........!
Bichon Frise

"If you only have 1 year to live, move to Penn...as it will seem like an eternity."

avocado wrote:Good to see you back, I was starting to miss your incisive commentary!

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Re: Profit taking today

Postby fantasma » Fri Sep 14, 2012 4:23 pm

I don't even "pay attention" to what's going on; I am in it for the long term...35 years or so more; my blinders are still on.
Be what you want to attract.

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Re: Profit taking today

Postby YoungGun » Sun Sep 16, 2012 9:50 am

I am like quite a few here, I honestly am not even looking to get out of 99% stock for at least another 7-10 years just due to my age (early 20's.) I told myself around 30 I will re-evaluate where I am, and then possibly start moving small amounts towards bonds (leading the eventual transfer from stocks to bonds slowly over X years.) But will work on more exact details in 8ish years, because we all know things can change over that time period.

Clearly I look at whats going on at least annually, but I decided there's really no reason to mess with allocation in my retirement accounts till then.

Also, note, this is for retirement accounts only, I do have savings/EFs =p.

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Re: Profit taking today

Postby Bichon Frise » Mon Sep 17, 2012 9:53 am

psst...."profit taking" just doesn't refer to a stock/bond tradeoff.

In other news, that apple is just an animal. Woo-doogie!!!! I'd shed some shares if I owned any....
Bichon Frise

"If you only have 1 year to live, move to Penn...as it will seem like an eternity."

avocado wrote:Good to see you back, I was starting to miss your incisive commentary!


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