This afternoon, I finally sold my stock shares in preparation for the diversification of my retirement savings into index funds. I've been hemming and hawing over this for weeks, and I decided to stop trying to time the market, and just get the transaction over with.
So, with that in mind, I logged onto the brokerage website, and entered my "sell" orders. At 1:45pm, my 484 shares sold at $70.69 per share.
Fast-forward to the end of the day, and the stocks I sold have now closed for the day at $71.34 per share.
Consider me pwned.
I know my "loss" is only $316.42, which is peanuts in the scheme of my retirement plan, and since all these shares were purchased with a 50% employer match, my actual return on investment is still amazing, but it's kind of amusing to have such a jump so soon after selling.
I just hope that the index funds I'm buying into tomorrow haven't had the same kind of rally.
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2 comments:
I've been doing some buying lately and experienced the same kind of emotion. I think it's human nature to sell stock and then wait as long as it takes until the price is higher than when you sold and then start cursing your bad luck - whether it's 2 hours, days, months - doesn't matter.
Mike
You go you market timer you! ;)
Honestly, just about the same thing happened when I transferred my retirement account. Basically I sold it right after the market took a huge downturn and the next day when the new company bought the new mutual funds... well, let's just say there had been some recovery in the meantime.
Gotta love it.
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