It’s time for our weekly investing updates.
The Market Pulse
The market was in sell-off mode this week. There’s no reason to panic. In fact, this is the perfect time to pick up more shares of the stocks you love or some watchlist stocks that have moved into the right price range.
Economic News
The CPI and unemployment jobless claims from the most recent report look good. Based on those numbers, the FED is projecting 1 interest rate cut before the end of the year. The experts think September, but we’ll see.
Allegedly, the market already has this cut priced in, which means that the market shouldn’t be affected when the announcement finally comes. So it shouldn’t impact what we’re doing.
Stock News
ABR is being probed by the DOJ about some accounting practices, so be prepared for some volatility. For now, I recommend staying the course.
ABR said they’ll address these issues in their next earnings report (07/27). Until then, I’d think anytime ABR falls below $12 it would be an opportunity to pick up more shares.
The higher ups that own and keep buying ABR stock are saying everything is cool versus the people who will not disclose their names or their short positions saying ABR is cooking the books. I don’t know about you, but I’m more apt to believe the people going on record over those who hide behind anonymity here.
Top 10 IINvestments Going Ex-Dividend Next Week
Here’s the list for those of you who are in the investing phase of becoming FI.
We currently only own PFE, but have owned LTC, ETO and EVT previously.
There is a whole lot of value in this week’s chart, but nothing that screams “buy me”.
FFC is the most interesting play as it’s so severely undervalued. PFE is vastly undervalued as well, so there is a lot of room for price appreciation, but the dividend may get cut soon because of its poor margin metric.
Portfolio Changes
- Sold 100 shares of ABR. We love ABR, but it was just was becoming too big a position in the portfolio, so we took some profits.
- Took the $1,575 from ABR proceeds and bought 61 shares of EQNR.
- Sold all of our NEE stock. With a low yield you like to see more than we did in the 8 months we held NEE. So, we’ll take our 19% gain and put these funds to use elsewhere.
- With the NEE proceeds, we picked up 17 shares of ES (5.04% yield), 34 shares of EPD (7.11% yield) and 37 shares of EQNR (11.90% yield).
- TRIN paid us our quarterly dividend (DRIP off due to it’s valuation). We’re sitting on this cash waiting for an opportunity to increase our stake in something else soon.
That’s it for this week.
Do something fun this weekend! I’m riding my bike up some glorious mountains.
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