I Did It... Well Half Of It

I put my right foot in and I'm shaking it all about... yep, I put 1/2 of my retirement back into the market. We got down to the 680 range on the S&P and if my target of 650 is accurate, this is close enough. When a bottom does happen, there will be a sharp upward move during that day and since my retirement money goes in at the end of the day I figured I'd just go for it. If I were smart I'd have waited for that big bottoming and upswing day, but nobody ever said I was smart.

I'm also expecting the gov't to come up with another rabbit and figured I'd beat them to the punch. They're going to review and discuss the mark to market rule on the 12th. I don't think they'll do anything but they could feel enough pressure by then to change the rule for a period of time.

How about Citigroup selling for a buck a share now. Amazing. It was $55 at it's peak, one of if not the largest conglomerate banking institution in the world and it's on the verge of disappearing. General Motors can be had for under two bucks along with Ford. So many stocks selling for under $10 or even $5. Four or five of them part of the Dow 30.

I did save 1/2 of my retirement in case I was way off the mark. I'm comfortable if I hit the low withing 10%. I got out at the high within 7%.

Keep in mind, this is only a "temporary" bottom. The rally we get will last a few months and will take us up near 10,000 on the Dow, but then it'll be time to pull out and watch from the sidelines.

I hope I didn't mis-time this in a big way. I don't see the S&P going below 600 during this set of waves. But quite honestly I don't see anything to turn things around at this point. I'm hoping for bargain hunters. The big boys are all waiting for 650. That's another reason I got in at 680. As soon as everyone has the same target, it tends to not quite get there.