This morning, with the sale of my May 2013 MFI tranche, I am officially at my highest cash position ever. I have been doing a lot of selling lately - including a chunk of my GTAT, 1/2 my LMNS, speculative positions in KLAC, GSOL, AHL, GNW, FGL and WB.
All this activity has put me at about 28% cash. Recall one of my key signals in decision moose, which moved in mid April to long term treasuries. So I expect over the near term to remain more of a seller than a buyer.
Looking at the ticker tape right now, my five stocks I bought yesterday would have been better bought today. Good thing it is a marathon, not a sprint.
I have actually put in an offer to buy DOW, should it drop about 3%. It should be a relatively safe stock (recall, I am trying to reposition to larger companies that are making money). They would be part of my dividend portfolio and they pay a 3% dividends. The other factor I really like is that Dan Loeb, of Third Point, has taken a stake and an activist role.
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3 comments:
At what price would you consider getting back into GTAT?
Joel - I do not think I would buy until I hear their earnings call tomorrow. Even then, I will likely not buy as I have been allowing the stock to be too large a proportion of overall holdings. But if the call is positive and you do not hold GTAT, under $16.50 is a good price in my mind. I still see this as a $25 stock - I am just mystified by CEO selling.
I hear you; hard to reconcile that... thanks for the thoughts.
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