Waiting.........

It has been a while since I last made a purchase in my portfolio. Certainly the lack of cash for my investing experiments (I always max out my 401k contribution in addition to paying off more than my monthly dues for my HELOC and primary mortgage, so don't judge ;-)) has been a big factor. But so has my desire to time the market and wait for a correction. It has been a while since the last major correction, and when the last one happened, I did buy then.

As an avid investing student, I read as much as one can, but very rarely have I come across a decent article or book on how timing works with ETF investing. There have been some mentions on the basic rules of when to sell/stop the bleeding/cut-and-run.
1. Keep an 8% stop-loss on all ETFs.
or
2. Sell when it falls below the 200-day moving average.

But as far as buying into an ETF goes, I really have to figure out a strong strategy. My investing theory does not permit selling very often, so when I do buy, it has to be that special one.......:-). I have read a number of times that May-November are historically the worst times for the stock market. So technically I should be looking into buying sometime between now and November. It is almost end of June and all kinds of stocks are reaching new highs, some even closing in on six-year-highs. So, what do I do now? Buy and hope the rally continues? I don't have the discipline to be a $-cost-avg investor, so that is out of question.

What do I do? I am waiting........