In all truth I didn't want to get things are stirred up as they became with my "The Day I Sold Everything" post. It just happened.
That article, with its follow on "Questions Answered," have generated since last Friday, 825 comments. I am not sure if I am embarrassed or just stunned.
In any event, somewhat overlooked in the excitement, is the idea that I am not looking for the end of the world type correction before re-entering positions. I dumped in a wholesale fashion because overall I was well ahead, and felt like there would be some stocks I might get back into at lower prices, knowing also that I expected some, like AAPL, to get away from me. But with a 19.5% gain in the apple position, I am not afraid to leave something on the table.
Also, I've had to stop responding to the comments because the time demand was simply too much. I've gone from about 4 followers to 242, I think. They will have the privilege of watching me eat crow if the market goes upside crazy. Meanwhile I have to get back to my real job and to scanning the markets for opportunity.
My first look companies are currently: KMB, PG, GIS, MMM, COP, CVX, MSFT, KMI, TGT, RDS.B, VZ, BCE, WEC, AAPL, DUK, CLX, ADC, PEP, VNR and ok, maybe KO.
Recall that my sales were on the Open Friday. Feel free to point out my silliness and tragic error. I'm not going to run away from the wins or losses of my decision, but am probably not going to write another public article until I feel I have some substance to share.
I will add that if we are headed for a blowoff top, and if a fella wanted to be in the market SPX is making more sense, since I found it hard to liquidate and keep track of the many issues I held. With SPX you could ride the wave, get out with one ticket, buy or sell options, and so on. A cleaner way to trade.
I had really wanted to buy and hold quality, dividend paying companies, but if there is a nearby bear market, this is problematical. For those who established positions five or six years ago the world might look different.
But I am back on the hunt for those issues that look to move up, which I guess makes me more of a trader for the moment. That's ok, because I am just seeking profit and safety. Like all of us.
Meanwhile, if you have any large cap dividend champs you feel are forming buying opportunities, let's share with all.