Remind me not take any more vacations!
When I left last week the DOW was sitting comfortably at 12,500 and here we are today looking at 11,866 at the close. 634 points or 5% in less than a week’s time!
The bright side (there’s always a bright side) is that we can start looking for some bargains.
Perhaps I’ll be able to pick up those shares of Caterpillar (ticker: CAT) that I spoke of a month ago. While we wait for the US government to finalize a debt ceiling deal, I’m guessing this is not the end of all the selling in this market – let the bargain hunting begin!
While you were out…
While I was out the DDI portfolio generated another $124.85 in income which brings my cash balance to just over $1000.00. I should be able to pick up 2 or 3 good new positions or possibly add to my existing positions.
New near-term goals
Now that I’m comfortable with the diversification of the portfolio I’m going to focus less on adding new positions and have decided to implement the following two short term goals:
- Begin “topping off” existing positions to reach even 100 share increments
- Focus on adding to higher yielding positions (primarily positions with 5% or greater yield)