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I took profits in some funds earlier in the week and started positions in a couple of new stocks today. The sell-off has more to go, although I'm actually looking to buy or add to a number of things.
I took profits in one ETF, then added to existing positions in another and to a mREIT. I haven't touched my core mutual funds in perhaps over a year. I'm on the fence on the direction of this market. I have cash to take advantage of opportunities, but I'm not "all in" by any means, and I have never been so pessimistic or fearful that I have been "all out."
Fiscal year ends this month… so this may be profit taking to earn those bonuses. S&P 500 selling could have stopped anywhere but stopped at the 50-day simple moving average. This amount of profit taking may stimulate some margin calls and we could see some additional selling next week. Of course there will those who see the 50-day SMA as price Support and begin buying again… but I’m guessing that they will be overrun by selling. Enjoy the weekend.
Seems that you’re always selling just before a dip and buying just before a rally. Personally, I’d like to see you post your buying and selling in real time. But that’s just me.
Reply to @Flack: Trust me, I absolutely make my share of mistakes! I'm still fairly young and my philosophy is really to try and learn from every trade in some way.
I'm not perfect by any means, but I did seem to get it right this week, as I took profits (didn't sell anything entirely) on some funds earlier last week when things began to feel a little toppy and earnings didn't seem all that great to me so far.
I will likely look for individual emerging market ideas (maybe more in Australian agriculture after Graincorp, although ag in general is something that I'm quite positive on) and may add to funds on a further pullback.
In terms of individual names, I am not looking for trades, but am more interested in things that I have a mid-to-long term view (3-5+ year) on and that offer a nice yield. The only thing that really kind of veered away from that recently was a tiny UK company called Monitise, which is 20% owned by a combo of Visa/Visa Europe. I took profit and moved on to other things, in part because I disliked how the pink sheet shares traded in the US.
I owned a Danish food additive company called Chr Hansen, but it trades about once a month, and it was difficult to buy and difficult to sell. I've tried to move away from very illiquid names like that, even though I think there are some interesting/solid companies, like CHR Hansen.
In terms of funds, I am considering Pimco EQS Dividend, as I think the performance has improved nicely after a slow start.
Comments
so this may be profit taking to earn those bonuses.
S&P 500 selling could have stopped anywhere but stopped
at the 50-day simple moving average.
This amount of profit taking may stimulate some margin calls and
we could see some additional selling next week.
Of course there will those who see the 50-day SMA as price Support and
begin buying again… but I’m guessing that they will be overrun by selling.
Enjoy the weekend.
Seems that you’re always selling just before a dip and buying just before a rally.
Personally, I’d like to see you post your buying and selling in real time.
But that’s just me.
I'm not perfect by any means, but I did seem to get it right this week, as I took profits (didn't sell anything entirely) on some funds earlier last week when things began to feel a little toppy and earnings didn't seem all that great to me so far.
I actually remain long-term positive about a number of things and am looking for opportunities. I will also likely sell a position (Graincorp) next week, as that company is in talks to be bought by Archer Daniels Midland (http://af.reuters.com/article/commoditiesNews/idAFL3E8LI7FN20121019) and is halted until Tuesday. I bought WP Carey yesterday morning, which I had discussed earlier in the week (http://www.mutualfundobserver.com/discussions-3/#/discussion/4279/brookfield-infrastucture)
I will likely look for individual emerging market ideas (maybe more in Australian agriculture after Graincorp, although ag in general is something that I'm quite positive on) and may add to funds on a further pullback.
In terms of individual names, I am not looking for trades, but am more interested in things that I have a mid-to-long term view (3-5+ year) on and that offer a nice yield. The only thing that really kind of veered away from that recently was a tiny UK company called Monitise, which is 20% owned by a combo of Visa/Visa Europe. I took profit and moved on to other things, in part because I disliked how the pink sheet shares traded in the US.
I owned a Danish food additive company called Chr Hansen, but it trades about once a month, and it was difficult to buy and difficult to sell. I've tried to move away from very illiquid names like that, even though I think there are some interesting/solid companies, like CHR Hansen.
In terms of funds, I am considering Pimco EQS Dividend, as I think the performance has improved nicely after a slow start.