Tuesday, October 8, 2013
New Purchase - TGT
I'll be out of town on a mission the next few weeks and I don't think I'll have internet access while away from home. I decided to put some money to work right now by buying a few shares of Target. TGT is the 37th equity position in my portfolio and I'm very pleased to add another high quality dividend champion to the lineup. This purchase came with a 2.76% yield and will pad my annual passive income stream by $34.40. I was not charged a commission since I still have free trades from my new Scottrade account.
Core Position: No
Speculative Position: No
Expectations: 7% dividend growth; steady income
Automatic Sell: Dividend is frozen/cut.
Consider Selling: Business fundamentally changes, management becomes untrustworthy, fundamentals deteriorate, stock price is wildly over valued, or position fails to meet expectations.
I also entered a lowball XOM limit order in case the market tanks while I'm out of the loop. Anyone following the news knows we are in the middle of a government shutdown, this could very well be an extremely volatile period for stocks. Since I will not have the luxury of being able to follow the markets closely for the time being, I must rely on limit orders. Anyways if XOM hits $80.60 I'll own more shares.