Been using the dips in the last couple of weeks and initiated positions in Johnson n Johnson (JNJ), Wal-Mart (WMT), British Petroleum (BP) and Microsoft (MSFT). Initiated positions in AIG warrants (AIG.WS) Overall impact to portfolio was about 5% conversion from cash to stocks. Expect to build up a few of the stocks mentioned above into bigger positions over a period of time.
Added positions to Wells Fargo warrants (WFC.WS) and Bank of America (BAC.WS) warrants as well!
I will be limiting adds to my overweight financial stocks in the portfolio with more financials stocks. Still over 50% in cash. No more major moves planned for now.
Behind all the smoke and screens, the fundamentals in the economy have improved very little in the last few months.
A small silver lining for the portfolio, Cisco (CSCO) rallied after last week's earnings announcement and cut my losses big time. A classic mistake of building a position too quickly too big in the last six months.
Inactivity is the key till I get new investment ideas or wait for my investment thesis in the above stocks to pay out... Patience is the key...
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