no, no, no, no, no, no, and no! :0)
debby, if there's one thing I've learned over the last year, it's that those boring old farts who keep repeating that "you cannot predict the market in the short term" are correct. What this means is that no matter where things are at any point, they can always go pretty far in either direction pretty quickly--and these days, often will. In the looooong run, though, the trend will almost certainly be upward. Moreover, credit card debt is about the worst deal in the world, so getting out of it rather than getting into it should be your primary concern (see the Motley Fool website for general tips).
So--in the short run, everything is a crap shoot, and credit card debt is bad news. Would you borrow on your credit card to go to Vegas? If yes, then you and Id should get together for some rollicking good times. If no, then don't pay substantial vigorish to play your hunch about the market's next twists and turns. Instead, invest with only those dollars you won't need for a while, and invest in instruments that ensure you'll be able to ride out any short-term dips with serenity. That means common stock without too much margin (and perhaps, if you're quite risk and volatility tolerant, a few LEAPS).
Our punishment for being such irresponsible newbie schmucks is that we have to sit out this particular buying opportunity. But if we play our cards right and avoid too many mistakes due to stupidity and impatience, we should get to have fun along with the others the next time around--and there will, indeed, be a next time, sometime down the road.
Maturity sucks, but it pays off in the end, and with a lot less strife and danger along the way.
tekboy/Ares@orsoI'vebeentold.com |
