Since the DJIA continues to hit record highs, are you scaling back/halting the purchase of overall market or sector index funds given their temporarily high price (when going long)?
I’m a novice investor with money in a range of index funds and ETFs, and I’ve got some cash on hand sitting in my Vanguard money market settlement fund.
However, the high performance of the stock market lately has increased the price of my index funds and ETFs to nearly $20-$40 more per share as compared to when I initially purchased them a few months ago.
Is this a classic example of “buy low, sell high” in that I should hold off on the purchase of these index funds/ETFs until the market slows down a bit? A decline is inevitable, and I’d like to get in the habit of using good investment common sense and discipline, rather than buying into the hype of an expensive market.
Note: This is ignoring any day-trading, swing trading, or short principles. I have purchased shares of these funds with the intent to hold.