January 2020 Stock Moves
I started the first week of 2020 by buying more Netflix and Akamai. I want to increase tech/growth exposure in my portfolio going forward.
What have I sold?
I sold all of my Kroger in my IRA for around 17-18% profit, I sold all of my shares of 3M for about a 5% gain, Verizon I sold out of also for about a 2% gain. All of my Fidelity Healthcare Services Mutual Fund is gone in my brokerage account as well; however, I did keep some in my IRA.
The second week of January I sold another portion of my Leggett & Platt. I know this is a good dividend stock that’s had a great run up. However, I feel looking at the chart it is losing ground here and will slide back to the 44-46 range. I will rebuy around that range, I feel the stock is currently overvalued.
I made a hard decision this week, I sold some of my American Eagle Outfitters at a loss. It was just a small portion but I simply want to start reducing my position over time as I feel the company has turned into a falling knife here. It’s looking worse than Macy’s share price did a year ago.
I am currently sitting in the largest cash position I’ve had since becoming an active investor. I am not waiting on a crash nor will I will be waiting over a month. However, I did feel it was appropriate to take some off the table going into 2020.
Last year one mistake I made was I was ALWAYS buying. This didn’t leave me with much cash in the reserves when great buying opportunities arose. Cash is an important position to have; otherwise, you miss out.
One position I’m CONSIDERING selling out of is Schneider Trucking, SNDR. I am looking at exit point of 25 there. It’s had a nice run the last six months but I just feel I’d be better off buying a total market ETF with that money than keeping it in SNDR going forward. News is once again talking trucking recession and there are certainly lots of trucking companies hurting and going out of business. In the long-term, I think this puts SNDR in a good place but I just want to reduce my risk level right now. If I do sell out of SNDR, my plan is to use those funds as a contribution to my 2019 IRA. I still have about $1000 I can contribute, and I have until April to do so!
Anyways, thanks for tuning in, I am looking forward to 2020. 2019 served me well but I do have better performance on my radar. I learned some things and hope to do an even better job of implementing them.