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Explorer ○

Re: BUY-SELL-WHY June 2020


At the close I bought into HFC, an independent refiner that I have owned in the past.  Paying about 4.3% and the recipient of several positive comments from analysts.  Closing price of $32.59.  I didn't take much time to check on the details because it was already on my possible buy list.  Expect some strength from here and may sell a call on it tomorrow if the price action is good.

Alan

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Frequent Contributor

Re: BUY-SELL-WHY June 2020

I bought MACFX as a small placeholder in my trust account.  I did some spring cleaning, tossing FBFWX and TAIFX and adding this 5th and final allocation fund.  

Aside, I thought there was one champion biggest ego on the Forum.  I now see we have co-champions.  

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Re: BUY-SELL-WHY June 2020

Bought VSGDX (Vanguard Short-Term Federal Fund Admiral Shares) to replace some federal MM assets at Vanguard. More allocation remains to be done.

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Re: BUY-SELL-WHY June 2020

Bought Vanguard Short-Term Federal Adm and Fidelity® US Bond Index. Confident these will both do well going forward.

 
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Re: BUY-SELL-WHY June 2020

 

Another "too good to be true" market  morning -- with its inevitable "this can't last" feelings of dread ahead.    So, I'm again putting hunches aside and heeding the signals.    I note cefconnect doesn't seem to include UNII data any more.  No big loss; it was frequently inaccurate.   However cefdata.com attempts to show investment income vs. distributions.    With apparently healthy ratios, bullish short term technical signals,  and exceptionally deep discount, I bought new position in NHF.

BTW ---  Agree 100% with giblets.  The idea of some misguided tyro following my trades is terrifying.  Don't do it.

 

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Re: BUY-SELL-WHY June 2020

Exchanged low 5-figures in T-IRA from VMNVX to existing position in VWIAX.  Looking to slowly exit a 6-figure position in VMNVX.  Low volatility? - meh. I’ll smooth out the edges with a balanced fund. Glad the market is moving up, but I’ve got a bit of whiplash.

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Explorer ○

Re: BUY-SELL-WHY June 2020

At the close yesterday I bought some HFC, an independent refiner that I have owned in the past.  Paying about 4.3% and the recipient of several recent positive comments from analysts.  Closing price of $32.59.  I didn't take much time to check on the details because it was already on my possible buy list.  Expect some strength from here and may sell a call on it if the price action is good over the next couple of days.

Alan

After I purchased HFC, I came upon a very recent article in Barron's by Andrew Bary, and here are a couple of paragraphs which outline the thesis for improved performance by refiners:

Driving is rebounding as the economy reopens and Americans take to their cars, viewing them as being more protected spaces than airplanes, trains, or other mass transit.

That looks bullish for Marathon Petroleum (ticker: MPC) and other big refining stocks, such as Valero Energy (VLO) and Phillips 66 (PSX), that have bounced off their March lows, but are still down an average of 30% this year….  Marathon could be worth more than $50 a share in a breakup.  Phillips 66 and Valero are favored by J.P. Morgan analyst Phil Gresh. Valero is a well-managed pure-play refiner with a strong balance sheet.  Phillips 66 is the industry leader with the safest dividend, and it offers a “best in class alternative to the oil majors,” Gresh recently wrote. Phillips 66 has refining, pipeline, chemical, and retail businesses—everything except energy production. Marathon yields 6.6%; Valero, 5.8%; and Phillips 66, 4.6%....

Investors are focused on gasoline usage during the remainder of 2020. Mizuho analyst Paul Sankey has predicted “record” demand for the fuel this summer, as Americans vacation domestically, rather than taking trips abroad. Gresh is not quite as optimistic, forecasting a 5% drop in demand in the third and fourth quarters. He wrote last week that he saw “negative factors like the recession (unemployment) and telecommuting more than offsetting the positive factors like the shift from air/mass transit to vehicles and the possibility of more staycations this summer….”

The outlook for refining is admittedly not rosy at the moment. Jet fuel demand is weak, and utilization rates are historically low. The entire U.S. industry—with the exception of Phillips 66—is expected to lose money in 2020, but investors are looking out to 2021 and 2022, as they are with other hard-hit industries.

 

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Re: BUY-SELL-WHY June 2020

Bought PMF and VT (Muni CEF and Global Equity ETF). The muni adds measure of variety, and the global, broad coverage. Looked at allocation funds but chose the above mentioned.

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Explorer ○○

Re: BUY-SELL-WHY June 2020

 Markets are on the move and "investors" should be totally aware of this. Most knowledgable investors are already 75-85% invested. Many portfolio's have been rebuilt since 3/23 [basic bottom of the market]. Word now to investors are to add additional shares [dollar cost average "up"] if/when the opportunity presents itself....

 Recommend that investors start [if not already doing this] monitor the "insider buying/selling" activities for adding/selling shares on existing securities in our portfolio's....

 My latest X-ray on a CEF for a current analysis for new income investors is GLQ where many of us have been capturing CapGains and continuing to dollar cost "UP". They, along with their sister CEF's have set distributions until the end of the year [where re-evaluation of their NAV will be completed for a distribution announcement. Currently, their NAV since 3/23, is up $2.04 with a current distribution of 13.57% [COB Friday]....Disclosure: Some of us currently hold a full position in GLQ at the current time....

Some interesting information for thought:

DJ Industrial Average: P/E estimate: 23.30 [15.38 year ago]
S&P 500 Index: P/E estimate: 23.75 [year ago 16.78]

Currently, some thinking by the experts [V correction], is that the market is looking "forward" 1-3 year period and that the market will continue to climb with the normal corrections that we have been experiencing. Sector rotation will be the problem for investors as buy/hold is no longer the rule of the day....

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Re: BUY-SELL-WHY June 2020


@xray wrote:

 

...Word now to investors are to add additional shares [dollar cost average "up"] if/when the opportunity presents itself....

 

 

 My latest X-ray on a CEF for a current analysis for new income investors is GLQ where many of us have been capturing CapGains and continuing to dollar cost "UP".

 


Very interesting, xray.  I average up, in a method I call Pyramid Up Investing.

Often I take some heat for this.  But note that a decade ago, 25 to 35 posters a month were posting on this (continuous) thread, that they were buying in, following the March 2009 bear market bottom, using "Pyramid UP" investing.

You are not alone...

Best wishes...

R48

 

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Re: BUY-SELL-WHY June 2020

Sold more shares of QUAL. I have been buying more bonds, mostly treasury, fed mortgage debt and some cooperate, all IG and above.

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Re: BUY-SELL-WHY June 2020

Moved some cash into FXNAX (US Bond Agg) on today’s death-defying plunge in bond prices. FXNAX closed down a whopping 0.16%.

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Explorer ○

Re: BUY-SELL-WHY June 2020

Yesterday at about noon, when I found out that a number of BlackRock Muni CEFs had just raised their payout by 10% or more, I added to them: BAF, MEN, MQT, and MQY. Also, opened a position in BBK.
 
To me, Munis are looking better, with lower rates being longer and the possibility of a tax increase in the future.
 
Added to my HQL position, and sold July 34 strike calls on the HFC I bought on Tuesday.
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Re: BUY-SELL-WHY June 2020

Order placed to add a little to VG Healthcare VGHAX, on recent weakness relative to the rest of the roaring market.

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Re: BUY-SELL-WHY June 2020

Re-investing funds I sold in March (JMUTX, PIGIX) and DCAing small amounts into VBILX and VSIGX.  The de-risking continues...

added: executed limit order of 6 shares of VTI at 157 in our brokerage account.  Small steps.

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Re: BUY-SELL-WHY June 2020

The healthcare sector is lagging in the current market performance and have not participated in the market rise this week [HQH, HQL, THQ,etc]. THW edged a slight gain. Income investors are finding many bargains in the rising markets and adding to their positions [averaging "up"]. Many of us sold our positions for other securities that have started to rise substantially....

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Re: BUY-SELL-WHY June 2020

Bought RPV today.  Slowly inching back into equities while keeping my eyes wide open.  My belief is that value will be the first to break out when the economy rebounds.

While RPV is not billed as equal weighted it is pretty close to one which puts it well into  mid cap value area.

helmut

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Re: BUY-SELL-WHY June 2020


Continuing to add to my taxable account in weeks when no auto deposit goes into my tax protected ones.  Bought a little bit of Vanguard international value, Vanguard international core stock, and Vanguard small cap value index.  I buy on ratio to maintain my pre decided asset allocation, so these are just getting bumped up to the next target level I’ve set for my taxable portfolio.

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Re: BUY-SELL-WHY June 2020


@chang wrote:

Moved some cash into FXNAX (US Bond Agg) on today’s death-defying plunge in bond prices. FXNAX closed down a whopping 0.16%.


ditto, Forgot to mention it,

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Re: BUY-SELL-WHY June 2020

SELL - PEI

taking advantage of exuberance to rid myself of this dog, take tax losses to offset gains taken previously, Build more Cash.

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