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The position in APO was exited at 1/16/18 12:46 pm ET with a stop market trigger of $35.58 and a filled price of $35.55. The basis was $34.66 so there was a slight gain on the position. To recap, this position was exited because I missed that APO had decelerating dividends, not steady to increasing -- it simply did not belong in the portfolio.
JPM still has an order for sale pending. The stop market trigger has been raised to $109.96, having never touched the lower trigger during the day. The position will be active after 9:40 a.m. Wednesday. JPM is being sold because the latest earnings release printed numbers that show EPS QoQ growth, compared to the same quarter 1 year ago, has slowed by -37%. Seeing this visually is easy if you have TradeStation and my DuncanRadar indicator.
Because of the available cash in the account I decided to run the numbers again and see whether there are any new positions that are of the size that would fit into a purchase. Here is the new, idealized portfolio:
I've highlighted PNC because the new composition (without JPM and APO) indicates that a 2.5% position in PNC is in order.
PNC just reported earnings on 1/12 and has a "green light" across the board. The stock is also a Dividend Challenger, meaning that it has paid consistent or increasing dividends for at least the last 5-9 years. Dividend yield is 2.08% as of 12/31/2017.
At the present portfolio value a 2.5% position in PNC equates to 16 shares at a stop market entry of $155.05, so here's the order:
Click on the image to enlarge.
This is a OSO -- Order Sends Order -- so JPM is the parent order (it executes first) and then the PNC order will be sent. This is a margin account so the funds obligated to JPM will be immediately available when it is sold for the purchase in PNC. PNC will be bought if PNC is at or above the stop market price of $155.05.
Of course, if JPM does not trigger the position in PNC will not be exposed. Hence, this requires that tomorrow we rinse and repeat the process until JPM and PNC trigger.
Next on the list will be BLK -- Blackrock "A" shares -- but I do not have enough cash in the portfolio until I free up a total of about $1,700. BLK will have to wait for another day.
That's it for today.
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As a reminder, CFG reports Friday before the open at 6:30 a.m. ET.
It is also possible that COR will pay their dividend today and that STT will pay tomorrow. We were not share holders as of the ExDiv dates (12/28 and 12/29 respectively) so while the price will drop, we will not see the deposits. The first dividend payment that I am expecting is DRI, which went Ex on 1/9 and has a pay date of 2/1. This will be followed by ABBV (Ex 1/11, pay 2/15).
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As with all my ramblings, you are responsible for your own investment decisions and I am not. Please do your own diligence, and please take ownership for your actions.
Regards,
pgd
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