Since the election finally finished the stock market has rarely seen a positive day or even flat day. The DJIA has shed 700 points, 5.31%, since the Wednesday after the election.
Here's what's on my shopping list at current prices as of Thursday's close.
Phillip Morris (PM)
Kinder Morgan Inc. (KMI)
Harris Corporation (HRS)
Phillip Morris and Vodafone are great global plays in their respective markets and that's why they are the highest on my list. I've been waiting for about 7 months for Vodafone to drop back down to the current levels, and of course now that it does I have no free capital. I would be willing to add to my MCD and KMI positions at the current levels, but I think MCD would be on hold for the time being due to it's current size in my portfolio. Caterpillar is high on my shopping list because I feel that long term it's a steal at these prices, although a dip into the upper-$70's wouldn't surprise me at all. Harris Corporation's drop is one of the most confusing to me. It seems like every other day there's another article about a new contract they just signed yet the share price has been following the market along. Intel has been on a very noted decline over the last few months and if I didn't already own 146 shares I would be picking some up, although it might move up on the list since it'll give me a good chance to average down in my position. I expect the markets to continue to show weakness, giving long-term investors plenty of opportunities to pick up more shares of quality companies.
In general that's about how my shopping list currently looks and I can't wait to get some money transferred over to pick up some shares. Unfortunately there won't be enough capital to pounce on the current opportunities as I would like. I think Phillip Morris and Vodafone will be where I look first before adding to the positions that I currently have in the other stocks.
What are you buying?