I typically add new stocks into my portfolio, when the overall portfolio value reaches a certain threshold (see here). Before that happens I accumulate the holdings I now hold based on their price action. At today’s high levels I am mostly waiting gor prices to drop. When the stock reverses for either a small or large correction, that is my time.
Today some of my holdings and stocks of my immediate interest did exactly an action which sparked my attention. They reversed significantly. However, it is not a buy signal. I want to see what they will do next. Will they continue falling? If so I enter my conditional order (or contingency order) as I tried to describe here). If they rebound and continue up, I will do nothing and stay calm aside waiting. The current prices are too high for buying and if they should continue higher, I want to buy at least at smaller correction.
The stocks which sparked big bright today were:
PPL Corporation
Realty Income
AT&T
Ferrellgas Partners
Ferrellgas was hit big today and I am seriously thinking to open an order for this stock or a new put selling option order.
We will see tomorrow.
I have owned O in the past. Unfortunately I held it through 2008-2009 when it actually still held up pretty well, but I let it go because of fears about how failing tenants may affect O’s performance. I generally don’t go after REITs in the discretionary retail sector, but this is probably one of the few I’d consider getting back into again.
Integrator, I had the exact same fears, but I was looking at it from the perspective of what goes down, will one day go back up (which goes both ways however), so I decided to take the risk and started buying into this stock. But honestly, many times I was sweating, scared to death if my decision was correct. Now I think, it was.
Thanks for stopping by, I appreciate it!