I sold on Friday: It was just luck - Carol Vinzant

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1 pt	I sold on Friday: It was just luck
	Sep 30, 2008 04:50 PM UTC

Carol Vinzant

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-56.69%	MID

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Filed under: Forecasts, Market matters, Recession

Normally, I'm the kind of person who thinks it's ridiculous when investors sell in a bear market. I didn't flinch when the dot-come bubble burst, or in the downturn after the terrorist attacks. But this time is different.

In January, I pulled back my stock holdings to the low end of the asset allocation models. In the last couple weeks as the credit crunch unfurled while I was on vacation in Canada with my husband, I looked for an up day in the market to sell. On Friday, I cut our stock holdings in our regular and retirement accounts by about one-third.

On Friday afternoon I completely expected the market Monday to rise on word of a successful bailout. I warned my husband that there would certainly be a rally when the deal was approved and we would lose out. Boy, did that turn out not to be the case. It still may happ...

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