My buy the dip stocks reversed today and decline significantly at mid-day. I guess the CPI and Jobs report didn't impress investors. At this point, I'm going to stop purchasing the buy the dip stocks, with the exception of putting some low ball bids on a couple stocks. Unfortunately, this may end up as "catching a falling knife." Ouch. Now I wish I had sold some for a small profit yesterday.
This experience reinforced my plan to move our investments from individual stocks to index ETFs. I already mentioned VOO (S&P 500) and MGK (Large Cap Growth). I decided to add SCHD (a dividend stock ETF) and RSP (Equal weight S&P 500). Today, I added some VOO, SCHD and RSP to some of our accounts.
I'm hoping for a recovery into the close of trading.
This is not financial, stock picking, nor investment advice. Please consult a professional advisor.
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