Time to get out my fishing pole, we're in the middle of a correction. Every day I check the stock market, it seems to go down. In fact stocks were in the red 11 of the past 12 days. WOW! I've already had an extremely busy month buying stocks and managing my portfolio, but I don't think I can say no to some of these prices. APD is now $79.34 (3.23%), EMR is at $46.19 (3.46%), MCD $89.62 (3.12%), OMI $27.95 (3.15%). GPC is another company I like, it saw a decline of 4.55% today. BP is yielding over 5% and now has a P/E less than 5. I like this menu!
The real question is whether to buy now or wait for even better deals. These stocks are at levels not seen since November, back when the gettin was good. If we see another down day tomorrow I'm going to reel in a catch. My plan to slowly invest my stockpile of cash is going out the window if this market keeps declining. We'll see what happens. Either way I won't be buying Facebook.
Yup, well said. Their having a sale over at the Dow Jones/TSX. I'm running over to pick A LOT of things up. I love stock sales!
ReplyDeleteI have the same thoughts. I did make a purchase today which I'll post about later on when I have more time. Thanks for stopping by!
DeleteI agree with your list of stocks. I want some MCDs, maybe some more COP. I already have a ton of BP. i don't think the market will go up much until after the election.
ReplyDeleteBP is definitely tempting at the moment. It's close to its 52 week low. I think at these prices enough safety is built in to withstand potential setbacks from the spill and litigations.
DeleteMy favorite oil stock is CVX. I'm waiting for it to go down to the mid 90's though. If that doesn't happen no big deal, there are many other stocks that interest me.
Thanks for your comments!
I envy you -- I don't have a stash of cash to invest right now. :(
ReplyDeleteMaybe the market will be nice to me and stay at these levels for the next few months. :)
I'm looking forward to hearing about what you decide to purchase!
Heck maybe you'll be glad you didn't buy now when the DOW is at 11,000... I've been conserving cash all of 2012, it wasn't easy! Too bad I don't know how to time the market, all I can do is buy stocks that fit my strategy and goals.
DeleteTake it easy
Great shopping list here.
ReplyDeleteI'm especially fond of EMR and MCD at current prices. I see you purchased OMI. Nice move! Health care stocks in general are pretty favorable right now. I have a little backup capital, but was planning on carrying that over until June. If the market keeps declining next week I may have to make one more purchase this month. EMR and MCD are fairly high on my list right now.
Best wishes!
Yes EMR was very very high on my list last week. My original purchase of EMR was at last weeks prices which is partly why I ended up with OMI. I already bought MCD in May so I'll wait a little bit there. Although if it shoots down to the mid 80's it would be tough to turn down.
DeleteJust analysed BP and I have to say I have no ideas why is so low valuated. Any ideas why is that? Chevron and Exxon are also at low value, but BP is even lower if compared. If it has to do with Mexico gulf spill there was 4 bn.$ recoveries so companies 24 bn.$ loss at Q2 2010 was even to much.
ReplyDeleteI think investors are still worried about the spill. There seems to be uncertainty in the amount they will have to pay. Also oil prices are low right now and there are problems in Europe. A lot working against them at the moment. That is my take on BP.
DeleteSame with Vodafone. Very low value compared to companies equty/share. I dont see Vodarone position at your portfolio, why is that? It took me very very long time to look trough companies info, and it does not seams that scary as it looked at first. Also im not sure if im calculating it right because there is issue with two different shares one in $ and other in £ and not very clear info how many of them are there and what amount of equity belong to which. I have calculated it trough capitalization and found out that ADR (US based) share basically is what is the closest thing to calculation (im using Google finance btw). BP sales are not so dependent on Europe as it looks at first its just ~1/3. Im starting to understand that markets are always overreacting. As with Facebook IPO same here with BP risks and I believe Vodafone also as its revenue is ~70% in Europe.
DeleteI have researched Vodafone before and I do like the company. It's one of the top telecom stocks in my opinion. The reason why I do not own shares is the semiannual dividend. I am a dividend growth investor and I measure my progress by comparing quarterly income to the previous quarter. Getting paid only twice per year would make my results uneven and skew progress.
DeleteI am fully aware my method is not perfect. There are many quality companies who pay semiannual and annually that look like great investments. However seeing progress gives me motivation to stick with the plan and spend money wisely.