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I love when the market pulls back like this and gives us more exciting choices for getting into our favorite dividend growth stocks at better valuations.
What are people's hunches about this one -- are we heading lower from here to even better entry points, or does this feel like just a temporary break from the overall rally the market has been enjoying?
I like to be reminded to deploy funds to their best use when you have them available, but then again, it is tempting to try and time a bit to get in at even lower prices.
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We haven't had a pullback to the 350 day moving average since last November so I think we are overdue for the correction.
I think we pull back to the 13,800 range in the next month or so before rallying at the end of the year towards new highs.
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I've been pretty bullish all year, but my intuition is less focused now than in a while. Neither up, down, nor sideways would really surprise me (unless it was something drastic, I guess). I am definitely rooting for a few more down days, though! I've got my shopping list ready: KO, PM, and yes, more TGT. My secondary list is AFL, WFC, and MCD, but I doubt I'll have the dry powder for those in the near term.
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Over the last few days I've added to PSX, MCD, PM, MO, LEG and added new positions in WMT and TGT.
MSFT has my attention a little. In about 3 weeks (around 9/15) they should announce a dividend increase; at today's 2.91% yield another 15% raise would put the yield around 3.35%. I must admit I do not have much feel on tech stocks, and I generally shy away from them.
MCD should announce a dividend increase around the same time. A 10% increase would move the current yield to 3.56%.
PM should announce around 9/12, a 10% raise would put the yield at 4.46% at today's price. And of course MO is supposed to announce tomorrow 8/23, a 7% raise would put the yield at 5.63%.
I think MO and PM are especially good buys for the long term at current prices.
Dan Mac @DGSInvesting
Unregistered
I'd like to see the market continue it's slide or at least not start climbing back up for a few weeks. I have no cash to deploy and am missing out on all the fun you guys are having! I'll have some more ready for a new buy at the start of September.
As for the general market direction. I have no idea. Markets go up, markets go down. I generally buy whenever I have money available and can find something worth buying. So far I haven't had any trouble finding anything that spikes my interest. But since I am in the accumulation phase and a very long way off from retirement, I'll hope the market goes lower so I can get some shares on sale.
