EKS, I also prefer to scale out of a position. And I often keep a small stub position. With the utilities I have, I have such a large number in my basket that I'd rather just sell out the position completely and not have small position/stub clutter there. These utility stocks frequently move in tandem now, so any future gains I forgo with one stock, I presume will be made up somewhat with some gains from other utility stocks.
I'm adding more TPZ. It does trade funny: Can't exactly describe it, but it is a little off-putting.
Cut back back my BMY shares a few days ago, intending to hold remaining shares and buy back sold shares at lower price. That part of my plan hasn't worked. -g- Will continue to hold BMY shares I have though.
NYB. The media reports by some pundits ---who say NYB may have to cut dividend because there's not enough reserves and mortgage defaults will be higher -- have spooked me, and last month I sold my position. Not sure of my facts here, it seems much of the properties NYB has are under rent control, people getting a very good deal being in the properties and not willing to leave for more expensive similar, so there's big incentive for these people not to default. And they haven't. And NYB's position is that their reserve amount, small as it seems to outsiders, is sufficient for the business. Critics say, defaults could still hit; the properties need costly maintenance maybe not so well-covered by the rents, etc.
Essentially I've been in NYB for the dividend. For 8% though, if I'm doing that, I'm figuring, rather than risk NYB I will get the 8% plus or minus, with a diversified etf and/or bond fund. So I skated on NYB. |
