Looking at my Google spreadsheets, I see that;
Performance for the joint account is way under par.
This is unacceptable, but I am already taking steps to correct/change this. A loss of -16.68% will be difficult to turn around, but it will be done. Covered calls have been sold (AI, BGCP, CNSL, DRAD, GSB) that added some income;
I am also now investing in tax-free closed end funds that pay monthly dividends (CMU, CXE, MAV, MFM, MHI, NMZ). No more investments will be made in common stock unless there is an unusually attractive opportunity.
The remaining common stock positions have trailing stop loss orders to close out the positions (GLDC, MSEX, SUP). The capital will be re-deployed.
Looking at all of the holdings across our portfolio, it is clear that some positions are severely overweight;
5 out of 6 of our preferred shares are overweight by a large margin. These positions will be cut in half. The capital will be re-deployed.
One common stock (PSEC) is also severely overweight, but pays a nice monthly dividend. I have put in trailing stop loss orders to close out the position, but I don’t expect that to happen anytime soon. If it does, I’m prepared to re-deploy the capital.
One thing I’d like to do is capture some dividends before I start trimming these overweight positions, so I will look to my dates spreadsheet for help with that;
Looking at this sheet, it is reasonable to assume that some sales might be made on or after June 13th & 28th.
I am looking to capture some of these gains;
From my wife’s Roth;
From my Roth;
Well, that’s the plan at this point. It may change…
Have a great weekend!