OK, My Turn

[Dividend Watcher]

Trimmed WBA in both our portfolios today. With a trailing P/E of 40 and, even if earnings hit estimates, the forward P/E is in the mid-20s, I think I can either better the dividend stream or buy some back if there's a significant drop in the meantime. It's just above my desired allocation in both portfolios. If they do make a big acquisition this year, it could wreak havoc with estimates as they digest it -- especially if they pick up Rite Aid. Of all the drug stores out there, including the regional ones around here, it appears Rite Aids are the worst managed outfit and would duplicate locations of just about every Walgreens in our area. That's a lot of store closings and broken leases.

I'll just sit in cash for a short while as I survey the landscape.