Timing a consolidation/pull back First let me start off by saying I love and own a lot of this stock and am holding for the long term.
My issue is with regards to me transferring funds from a TFSA mutual fund from one institution into a TFSA fund that allows stock trading. As we all know, stocks don't go up in a straight line. There is usually some pullback and consolidation. Do you think that I should just suck it up and buy now at this high price or do you think it will drop with some profit taking? Or will it rise higher and have a future pullback at a higher price than it is trading at today?
I would obviously like to get as many shares as I can but am also of the opinion, who cares what price I buy it at because it will likely be going to $2 or $10 in the future. I'm just conflicted as to when to jump in. Any suggestions?