I guess I have been preparing my portfolios for a sharp downturn. I am 35% in cash in my dividend portfolio. I have bought a large stake in SDS (a leverages S&P short ETF). I have tried to buy some more defensive names and move away from the high beta stocks.
But still, when the market goes down, it goes down. I actually feel pretty good far, but it takes a steel nerved investor not to blink a bit.
Tomorrow, I will buy my 2nd MFI tranche. Not exactly sure what I will buy, I have it whittled down to about 8 names. You will be the 1st to know.
CSCO had great earnings, and that really softened the blow today. Still, when I see my high dividend stocks: BHK, JQC, PVD and CSQ sell off about 4% each... that tells me people are worried about higher tax rates on dividends. Not a rocket scientist here, but I suspect if that trend continues, it will not necessarily be favorable for my dividend portfolio.
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