Sold USMV (ishares min volatility etf) to mmkt fund and exchanged VPMAX (VG Primecap fund) for a Bond Index fund (457 equivalent) to reduce equity exposure.
Remember - July 15th is the last day to file extension to file 2019 tax return. It is also the due date for paying 2020 Q1 ES payment. I just combined both and payed one larger extension payment. It so happened CA followed Federal due dates.
Took profits on the WFC I bot during the temper tantrum. This stuff really isn't that hard. It's like a spoiled kid that you take away his candy and give it back the next day. But I regress. WFC probably has good long-term potential but I'm looking to cut drama. I don't need any more projects. I took all the profits and placed it in VWELX and will wait for the next time the spoiled, fat market gets it's candy taken away. I still think it's coming. Stay well.
rhythm... Good short-term trade -- there no doubt would be long-term profit to make, but the bottom may for WFC will be tested, I suspect, even extended. May be possible to enter WFC again, either for another short-term trade or to establish an even lower cost basis for a long-term holding.
Sold WFC at $25 for break even.
Sold basically for the same reasons as @rhythmmethod .
The stock is cheap but they cut the dividend more than anyone thought they would.
They are taking a lot of loan loss provisions, the government is limiting their buy backs and dividend payments based on profitability and they had just reported a surprisingly large loss for the quarter.
It seems like it will be a while before things will improve and with almost no dividend, there is no real reason to hold this now.
Sold some of my higher cost basis WFC (1000 shares) to capture a capital loss. Still hold some WFC (~2000 shares), may try to add some back after 31 days. Hopefully even lower!
Thur. bought some AEP for income side and enough Essential utils ( WTRG) dividend wise to pay my water bill each month. Got the eye on some IBM for income side!
Sold 1/3 of my position in D. I added a little during the recent drama. I'm deciding what to do in the meantime rg utilities. D is my local and has been very good to me, but I had an out-sized proportion (both to D and utilities) I bot the same dollar amount of HON. @chang I'd been waiting for the pullback in HON, which hasn't happened yet, (I'm very light in Industrials). I’m spreading my LCV allocation around. Not really interested in allocating new cash at this point.
OT - @copie In the outside cooking market I bot Mastercraft E-Smoker. LOVE IT. I might open dialog in Off Topic Forum about recipes. I'm going to try my first brisket soon. I might pick your brain for injections, recipes. Stay safe!
Added to my holdings of Vanguard Value Index and California intermediate term tax exempt bonds, and also bought a few more shares of DraftKings and some shares of Pfizer.
Small BTD additions to VWELX, TRBCX, TRWAX. ( TRP growth and Wellington).
@rhythmmethod Did you mean PRWAX? TRWAX is a TransAm fund...
(Not sure why TRP chose the ticker PRWAX, since the more appropriate TRNAX or PRNAX are both unused and available.)
You’re right, @chang. I’m dyslexic and go crazy with letters. I almost never get a phone call right on the first try, either. rm
Asia (HK and China) is closing pretty deep in the red, and Europe opened > 2% down, while US futures are also off, led by the Nasdaq. With that in view, I placed orders to add to
- Matthews MATFX (Asian LCG Tech)
- Vanguard VWILX (Intl Growth)
I’m still a little queasy adding to US equity with major cities virtually in flames. Got plenty of bonds waiting for the second crash that everyone thinks is coming. (Not holding any cash - with MMs yielding ziperoo, I don’t see any point holding cash). But if it doesn’t come, I’m perfectly OK with that too. I’m around 45-50% equity that I’ll be happy to keep forever.
Though .... I have a ton of VBIRX in my new IRA—part of which is earmarked for Wellesley. Does Wellesley ever go down (barring bonafide crashes)? I’m guessing not, so maybe I ought to just buy and be done with it.