So glad the market is correcting.
Made dumb mistake of issuing trailing stops on Google and Apple. Google went up $40 beyond my trailing stop price after I sold it. I had the stock for three years. Apple I still kept some of. How was I supposed to know where the bottom is? Wonder if this ever happens to professional/institutional investment managers.
Stock prices were buoyant last week. I couldn't see anything worth buying. Then I found my written-down screen and found Google, MasterCard, and Gilead Systems as worthy buys. I bought Google and MasterCard today because:
1. the prices fell;
2. their Standard & Poor "Intelligence Quotients" are 157 and 154, respectively;
3. they are both undervalued according to S&P;
4. they have wide economic moats according to Morningstar;
5. both the Value Line Investment Surveys grades for Earnings Predictability, Price Stability, and Growth Persistence sum to 260 out of a possible 300;
6. low short float ratios.
Waiting to see if Gilead will fall below $101. It has a high float ratio and the greatest growth potential and it is a weaker and more volatile company. I bought in September 2012 and took profits when it dipped below $105 earlier this year. I wanted Monster Beverage and Visa but they were too expensive and of the six companies I tested my screen on, those two were the most richly valued and least rated by Morningstar. Snafu introduced me to insider selling indicators, and I see that Gilead, Apple, and Monster have negative transaction percentages ranging from -23.83% to -38.36%. Google and Mastercard had the smallest percentage of insider selling.
Today is payday. I usually log on three times on payday morning and stare at the balances of my credit card, HELOC, and car loan. I did log on three times this morning, but paid off the credit card (hold the applause, please, I had enough $ before payday to pay it off and I don't carry finance charges on it) and left the HELOC and car loan alone. Anticipating cat vaccination boosters expense and registration expense for my wee one's spring athletics, I need a better system for finances, like putting money to savings first. I stash close to half the salary in the emergency fund for paydays from 16th to first of next month, and (half - $200) from the 2nd to the 14th of the next month. Now that the Money Market Account is over $10,000, I can expect the 0.025% monthly interest instead of 0.00417% monthly interest and put some $ to savings. I don't have much money left over, now that the spouse drives to work and gas prices have gone up eighty cents a gallon since this time last month.
Income tax refund still hasn't come. Refund allocation looking like: $355 for cat vaccinations, $100 for spring athletics, $45 for driver's license renewal, $333 for new phone and SIM card; $600 for 20th anniversary trip (probably the cost of a ferry, fuel, one night's hotel, phone card vouchers and meals), $150 for debt repayment, $150 for savings.
We ate at a drive-in last night. Excellent to see vintage sports cars in neighbouring stalls. We ate out because I was failing at mastering GIMP (Gnu Image Manipulation Program) within a short time frame for a project I badgered my kid about all this past week, offering help, asking for status daily, suggesting starting points like rough drafts, and yeah he and I cram it all in the last few hours. I'm not a happy camper when I'm hungry and failing at resizing images and pasting them into selections on canvases. Proof I am still not ready for work. Working women are always up to the challenge with energy and smiles galore!! "Oh let me support you gladly and competently oh struggling coworker for we are teammates! In for a penny, in for a pound!" He and I need to work on our time management. I was going to have cross-rib roast beef but didn't read until the day of planned prep about salting it 18-24 hours ahead of time. Today though, it's beef day. Even going to start Yorkshire pudding batter as soon as this posts.
Warble of the pinheaded Springtime Cuckoo
So glad the market is correcting.