Fed Action

Fed reduced the fed fund rate by a quarter point and stock market soared. I anticipated the quarter rate cut. To hopefully enjoy some of the market rally, I bought some $30,000 worth of investments the last two days. Not much, just trying to dip a toe in to catch some profit, so most of them is not full position. I still have 25% of cash, and expect to deploy them in the coming two weeks before Thanksgiving. The problem is I think a lot of the things I have my eyes on are all quite expensive in my opinion, so I am not sure I can find anything to buy. I bought a half positon in CGMFX (CGM Focus, this fund is a high flier this year, up 70% YTD thanks to legendary money manager Ken Heebner), PRHSX (T Rowe Price Health Science), MERKX (Hard Currency), FNORX (Fidelity Nordic) and one single stock (HERO). I will add more to CGMFX, FNORX and PRHSX later, giving it some time for me to observe their performance first. I want to get 100% in to capture the usual Christmas rally, on the other hand, the expensive values I have seen in so many stocks has me concerned as well. I will just take my time and be patient.