As I wrote the other day, I like the way the markets and stocks have performed recently in the face of dissapointing financial issues out of Europe. The earnings reports that have come out so far this quarter have been very positive and the guidance that companies have provided for the next quarter reaffirm how I feel about the economy.
So, on a day like today when the market is down by almost a hundred points, when the financial sector on average is down by 1%, when consumer staples (like kellog and Clorox and Proctor and Gamble) are also down by 1%, I'm a buyer of stocks and mutual funds. I am looking to add to my existing stock and mutual fund positions today and tomorrow as I want to have more money invested in the markets.
Some of the stocks I'm looking to add to are:
Etrade
Yahoo
Citigroup
KKR Financial
Some of the stocks I'm looking to buy for the first time are (or buy again):
Sallie Mae
Clorox (only below $65/share)
Verizon (only below $35/share)
MGM (below $12.50)
Bank of America (now at $8/share)
Dell (now at $16.25/share)
Ford (now at $10.90/share)
- these are just a few of the stocks I'm looking at
Also of note, one of the new stocks I've been watching and believe could produce a good return is Ocwen Financial Corporation (OZM)..the company is in the business of mortgage financing, mortage reinsurance, and they also manage money in the stock market. The company released their 1st quarter earning recently and things and business is booming for them. The stock is up almost 5% today but I still like the investment prospects and I'm looking to buy some stock at some point soon.
Some of the Mutual Funds I'll be buying are:
Yackman Fund
Permanent Portfolio Fund
RS Mid Cap Fund
Delaware Select Fund
FPA Crescent Fund
Mathews Asian Growth and Income Fund
I'm watching to see how the emerging markets are shaping up but from what I can tell so far, it appears the European financial crisis is spreading to the "less developed" countries. But, like I said, I'm a buyer and think that when the markets pull back (sell off), that gives investors a good opportunity to put more money to work in the markets.
