investing advice please

[MeGustaDinero]

I am 20 years old and right now have about 50k in fidelity purtan fund. i feel like now would be an ok time to sell and wait for a drop in the market to buy back in. am i wrong for thinking this?

im so new to investing and have only glanced at a couple books. but im pretty sure i want to be a little more aggresive and mess with stocks. one reason i dont go ahead and sell is because i have no idea whos stock to buy.

im open to any and all advice.
thanks in advance.

[disneysteve]

Originally Posted by MeGustaDinero

i feel like now would be an ok time to sell and wait for a drop in the market to buy back in. am i wrong for thinking this?

Yes. You are wrong for thinking that.

Market timing doesn't work.

Let me say that again.

MARKET TIMING DOESN'T WORK.

Build a diversified portfolio including a variety of asset classes: stocks, bonds, commodities, real estate, large cap, small cap, domestic, foreign, growth, value, etc. Come up with an asset allocation appropriate to your age, goals and risk tolerance and proceed to invest steadily over time, periodically rebalancing to keep in line with your allocation plan.

Jumping in and out of the market when you think the market will drop or rise is a recipe for investing failure.

[Broken Arrow]

Originally Posted by disneysteve

Let me say that again.

MARKET TIMING DOESN'T WORK.

He's only saying that because I (and most everybody else) have tried and failed.

Well, before you commit to anything, here's what I recommend: Set up a virtual portfolio somewhere, you know with fake money, and do what you are thinking of doing, then see what happens.

Or, you can simply state on here what you believe will happen for the rest of the year, perhaps how much % it will drop, which month, and see if it doesn't work out that way.

[jIM_Ohio]

Originally Posted by MeGustaDinero

I am 20 years old and right now have about 50k in fidelity purtan fund. i feel like now would be an ok time to sell and wait for a drop in the market to buy back in. am i wrong for thinking this?

im so new to investing and have only glanced at a couple books. but im pretty sure i want to be a little more aggresive and mess with stocks. one reason i dont go ahead and sell is because i have no idea whos stock to buy.

im open to any and all advice.
thanks in advance.

Before you buy or sell, focus on some investing issues. Read this thread, post questions here...

Questionaire for people starting retirement planning

My goal is for you to answer your own question. Before you sell, you should know what to buy, regardless of the timing.