Friday, March 01, 2013

Waiting For a Fat Pitch

I think one of the hardest things for an investor (and me) to do is to wait.  When you have some cash in hand and you see stocks that you had interest in going up, it is difficult to wait.

I have sold a fair amount of positions lately, so I am sitting on a relatively large cash position.  Waiting for a fat pitch.

On February 11th, I made a listing of 11 dividend stocks to watch.  Since then, I have bought three of them (FCX, CIM and ABR).  I am waiting and watching the other 8.  STO is getting close to where I might pull the trigger, but all the others still look too high.

After GA's earning this week, it is also on my watch list.  I thought they were very solid and I love the idea of the 42 cent dividend and then semi-annual dividends going forward.  I have not yet decided what price I would buy more at, but probably in the $6 range.

Stock Amount Yield Dividend Current 11-Feb Change
Total       300,000 5.8%           17,446
CIM          15,000 12.1%             1,812             2.98           3.06 -2.6%
O          15,000 4.8%                 713          45.65         43.63 4.6%
STO          15,000 3.9%                 590          24.93         26.19 -4.8%
PRE          15,000 2.9%                 430          89.24         89.00 0.3%
FCX          15,000 3.9%                 587          31.92         35.33 -9.7%
INTC          15,000 4.3%                 647          20.88         21.03 -0.7%
CSCO          15,000 2.7%                 403          20.86         21.27 -2.0%
SAI          15,000 4.1%                 609          11.82         11.99 -1.4%
PSEC          45,000 11.7%             5,265          11.16         11.35 -1.7%
PM          45,000 4.0%             1,800          91.75         90.35 1.5%
BX          45,000 4.0%             1,800          18.90         18.11 4.4%
ABR          45,000 6.2%             2,790             7.92           7.17 10.5%

Here is the table of the 11 dividend stocks I am watching.  The ones highlighted in yellow are the ones I bought (ABR at $7.19, CIM at 3.08 [clearly I did not wait long enough] and FCX at $32.12).

I do believe it helps to make shopping lists and even to put in buy orders at certain prices in the event of a flash crash.

Happy March 1st everyone!

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