Buy - Sell - Hold - AUGUST

Puddnhead

Hi guys,
What a difference a day makes. I looked at the futures last night......down big.....looked good for Tuesday......really not so.....how come?! The damn machines! How are we going to make any money the way this crap is going? Anyway, I did some buying Monday: BTBFX, FSDAX, ROGSX. Was waiting for Tuesday to buy some more. Looking at CFVLX for new position. Also looking to add to CIPMX, FSMEX, FXIAX, UMBMX on weakness. Looks like I will have to wait so........what are you guys doing?
God bless
the Pudd

Mitchelg

Bought RSP & DGRO yesterday near the bottom. Consider them core positions.

BenWP

Bought some CAPE near the lows on Monday and added to CATS.

Old_Skeet

Bought the first step in my spiff ... VADCX.

johnN

Watching today sisaw... Too busy w work.. Did most buying yesterday brk.b.. Has more cash come in Friday likely will add a good reasonable midterm-long-term Corp private bond like Verizon or tmobile

hank

Just closed out a spec position in mining fund OPGSX opened May 6. Gold rose from around $1250 than to $1470 now. The fund spiked about 35% over the 3 months. Been scaling out for a couple months. Just ran the numbers - netted 20% on the position over 3 months. This was a bit of idle cash I took a chance with. Continuing to maintain a static allocation to the fund - about 3% total portfolio.

MikeW

Still watching and waiting for now. Have PRDGX and BIAWX on my buy list. Researching a couple of others.

davidrmoran

margin-bot QQQ and IVV yesterday and sold today, made $600; shoulda done way more obvs, shoulda held longer maybe (I do not think this crisis is going to last), but that takes nerve I do not have, esp on margin

Crash

When my ship comes in, I'm buying CM: Canadian Imperial Bank of Commerce. https://www.morningstar.com/stocks/xnys/cm/quote

johnN

hello
also picked up ford bond YTM > 6% cusip 345370BS8 price 119
add VWO

bought more FBND for Mama's retired portfolio - fidelity

catch22

@Crash What is the draw to Canadian Imperial Bank of Commerce, or the banking sector in particular when bond yields continue fall; which with my non-formal investment degree perhaps suggests lower interest rates may make it more difficult for a bank to maintain a suitable profit margin?
Anyone, correct me if I am off base with my thinking with this and the banking sector in general.

hank

Hey - I really called the “top” in gold, didn’t I? Closed out my 3 month spec position yesterday. Today it’s up $31 to over $1500. That’s the biggest dollar gain I can remember in one day in years. (Timing is everything).

Still have a smaller allocation to miners, plus whatever PRPFX holds.

MikeM

I'm holding my gold play @hank probably though the year and maybe as long as the current guy in the White House is around. There are black swans roosting all over those grounds in my opinion.

MikeM

Agree with @catch22 on the banking sector but I don't know if it applies to a Canadian bank.

I had a limit order buy take affect on Tuesday for a health care stock, BDX (Becton Dickinson and Co). I was a little surprised since I put in what I thought was a fairly low bid price a few weeks ago. Up 6% since then... Yay for me!!!.

Crash

@catch22 and @MikeM Your logic is certainly sound. But banking in Canada is a different animal. But regardless of the species, CIBC (ticker CM) is trading at a -20% discount these days. That published ratio is even higher on a webpage like "Simply Wall Street." Its dividend yield is highest among the "Big Six" which literally hold 90% of deposits in Canada. That's a lot of leverage. And Canadian banks are highly regulated. For decades, they've all cut back on customer service, even charging fees for stuff that would never be tolerated in the States. In a previous thread, I see that the fee for paying one's BMO credit card bill IN PERSON has been removed, though. I guess the logic is that the gummint lets them get away with treating customers like shit because in the other direction, the gummint makes double-sure that the money in those banks is safe from the sort of meltdown we had in '07-'08 in the States.

Canadian consumer debt is high, and that's a negative. Home prices are crazy, yes. Anyhow, I'd be buying and holding CM long-term, for the sake of the dividend. I've been looking to see which broker to use. Which one is best for a single trade like this? Some local outfit, rather than the big, universally known chains?..... I'm quite happy right now with the rest of my portfolio, still all in funds: 35% stocks, 57% bonds, 7% cash held by the funds, 2% "other." I see just a -1% "short" position. Thanks for asking. I just lately cut PRSNX substantially, using proceeds to buy an equal amount of RPSIX. As you know, I had been quite interested in BNS too--- Bank of Nova Scotia. I've spent considerable time in Canada: BC, AB, NS, ON, PQ. Not the Atlantic nor the Prairie Provinces, yet. I've not been to the Territories, either. I lived in Canada, two different times, for short periods. I go back visiting almost every year. I'll spend September coming up, up there. I find out what I can from the news and everywhere...
https://www.nasdaq.com/symbol/cm/analyst-research

hank

@MikeM, We shan’t discuss politics here. But I know I bailed too soon on the spec position. There’s kind of a knee-jerk reaction when you see a fund you hold up 35% in 3 months. Thankfully, overall I adhere to a static allocation model and refuse to mess with that plan.

Without going political, I think the biggest caution flag is that stocks have gone nearly straight up for over 10 years. Maybe in a Disney movie that’s the norm. It’s rare in the real world (but not unheard of).

Black swans?

- N.Korea’s lobbing missiles again over the Sea of Japan.

- Contentious political season is underway. Battle lines drawn by both sides.

- Russia’s behaving badly (in numerous respects)

- A “currency war” sees many nations devaluing currencies. I believe this was a precursor to WWII - though not predicting anything like that. It eventually ruined some European economies, making some nations desperate for reprieve and bringing some real “undesirables” to power.

Thanks again Mike for responding. Wishing you much success.

Old_Joe

"bringing some real “undesirables” to power"

H'mmmm...

We shan’t discuss politics here.

Derf

@Crash: " I see that the fee for paying one's BMO credit card bill IN PERSON has been removed, though. '' Are you talking in Canada ?
Derf

Crash

Derf said:

@Crash: " I see that the fee for paying one's BMO credit card bill IN PERSON has been removed, though. '' Are you talking in Canada ?
Derf

Yes, Canada. Was it you, or someone else who mentioned to me that a friend in Canada did not any longer --- or never--- paid such a fee for doing so?... At any rate, I know for a fact my classmate wanted to do that (years ago) and he told me they would charge him to do it in-person, with a teller. If he mailed it or maybe used the ATM, the only charge would be the stamp for postage, if he wanted to go that route. And don't forget the VAT on the postage!

Old_Joe

I've never quite understood the concept of a tax being "value added". Seems more likely to be "value taken", by the government.

Derf

@Old_Joe; Right on the button! It just depends which side of the fence your on !!

Derf

rforno

Closed out of growth POGRX in my Roth on yesterday's nice Nasdaq spike.

Old_Skeet

Anybody bought or sold the past week, or so?

My last buy was on, or about, August 6th when I established my first buy step in a spiff (VADCX). Thus far, the market has found some footing and has not continued to pull back as I first thought it would. However, we still have the rest of August and September to go before we get into the 4th quarter. Hopefully, things will begin to look brighter as we move through October and into November as most companies will have reported their 3rd quarter earnings and the traditional holiday shopping season begins.

Still awaiting a higher barometer reading of around 163, or higher, indicating that the S&P 500 Index is oversold before I add the second spiff step. As of Friday market close (8/16) my market barometer had a reading of 157 indicating that the Index was undervalued.

I'm also thinking that I'll unwind the spiff once I've reached a 4% profit as that is about double what I'm averaging out of my money market funds.

rforno

I added to RWMGX in my 403(b) and PRBLX in my Roth, buying on *major* down days.

@Skeet, out of curiosity, why do you use VADCX (1.21 ER?) vs something like RSP (.20), for an equal-wt SPX fund? (They're both Invesco funds)

Simon

rforno said:

Closed out of growth POGRX in my Roth on yesterday's nice Nasdaq spike.

Ah, what a shame. It's been a sterling performer in my portfolio for the last decade. I'm willing to overlook short term underperformance for the bigger picture. At least for now....

rforno

Yeah, I know. I may well buy back in at some point, but growth is less attractive of an investment than before in my view. Shifting more to value and/or blend than pure growth in some of my accounts.

Simon said:

rforno said:

Closed out of growth POGRX in my Roth on yesterday's nice Nasdaq spike.

Ah, what a shame. It's been a sterling performer in my portfolio for the last decade. I'm willing to overlook short term underperformance for the bigger picture. At least for now....

Old_Skeet

@rforno: Thank you for your question about why I choose mutual funds with higher fees that also have 12b1 fees associated with them.

"@Skeet, out of curiosity, why do you use VADCX (1.21 ER?) vs something like RSP (.20), for an equal-wt SPX fund? (They're both Invesco funds)"

For me to hold mutual funds in my brokerage account and avoid a wrap fee on the account itself the mutual fund has to have a 12b1 fee associated with it. If not, then the account would be exposed to a wrap fee that would be north of one percent. Thus, I hold only A and C share mutual funds in this account that have 12b1 fees associated with them. With this, what appears to be a greater expense, to me, actually turns out to be a less expensive one as there is no wrap fee or any other fees charged to me on this account by the brokerage house.

rforno

Gotcha, thx for the clarification!

Old_Skeet said:

@rforno: Thank you for your question about why I choose mutual funds with higher fees that also have 12b1 fees associated with them.

"@Skeet, out of curiosity, why do you use VADCX (1.21 ER?) vs something like RSP (.20), for an equal-wt SPX fund? (They're both Invesco funds)"

For me to hold mutual funds in my brokerage account and avoid a wrap fee on the account itself the mutual fund has to have a 12b1 fee associated with it. If not, then the account would be exposed to a wrap fee that would be north of one percent. Thus, I hold only A and C share mutual funds in this account that have 12b1 fees associated with them. With this, what appears to be a greater expense, to me, actually turns out to be a less expensive one as there is no wrap fee or any other fees charged to me on this account by the brokerage house.

Derf

@Old_Skeet: Would you mind telling which brokerage this account is held with ?
Derf

Old_Skeet

Hi Derf, The subject account goes back many, many years and was set up to receive asset transfers that my grandparents and parents made to me many years ago. Due to the needed historical and cost basis records that are contained in its broker book I still maintain the account and have no plans to close it. I'd rather not tout the brokerage firm by name.

Derf

@Old_Skeet: Thanks for your reply. I know you have mentioned this wrap deal a few times before. My memory failed as to if you mentioned the brokerage.
Thanks again, Derf