The Fortis price has surpassed its old high for the year ($61.46). A check of its target price shows Fortis to have also surpassed that goal as well. At the present price ($61.84) the Fortis dividend yield has slipped to only 3.847%. This is less than the 4% I look for in a stock holding. I can earn almost as much from a money market fund: 3.8%. I am lightening my exposure to Fortis.
When CIBC split and tumbled in price, both action occured at approximately the same time, I picked up some shares of CIBC with the goal of making a little money come the inevitable turnaround. It has turned around and I have now sold 300 of those shares.
TransCanada Pipeline (TRP) has been on a roll for some months. It has surpassed its high for the year but it is still down considerably from the height attained by it historic highs more than a year ago. It may regain its old highs but I was happy to part with a few hundred shares at the present price.
The iShares ETF XUS split a few weeks ago. It had doubled in price since my purchase, and now, at the new price thanks to the split, I feel comfortable dumping a few hundred shares. On the next dip, I will buy more of this ETF than I just sold. One does not want to be underexposed to the American market for too long. I am hoping a correction is coming --- and soon.
The markets have been on quite the roll and despite my lighting my equity load, I am still more exposed to the market than at almost any other time in my life. If the market continues to climb, I will rewarded. If the market pulls back, I have some cash to take advantage of the correction.
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