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Pulled the trigger on mutual funds
 
Location: BlogsWrate's rants... and predictions    
Posted by: iwrate 12/11/2007

It finally seemed a good time to get out of my mutual funds. The market has been creeping up slowly and broke 13,700 yesterday. Earlier that day I called up my guy at WAMU and told him to sell everything at the end of the day. I figured there would be turmoill today when the fed announced it's interest rate decision (it dissappointed by only dropping rates 25 points). I was also following the old adage of 'buy on the rumor, sell on the news'. 

As (bad) luck would have it, my guy screwed up and only sold 2 of my 3 funds. The market plunged and the value of the money in the remaining fund is down $12K. Time will tell if this really screwed me up, or if there is a short term recovery. Regardless, I'm very upset as I'm having to second guess things and keep focused on the market to find a good time to dump the final fund.

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