The market is down a bit this morning. In my humble opinion we are looking at a short term top. I expect a healthy correction will be coming soon. The question becomes will this correction create "fat pitch" type opportunities. That remains to be seen but with QE3 in full swing I have my doubts.
I believe we are going to see situational opportunities. In other words, certain stocks or sectors will get hit harder than others. If a blue chip stock I trade/invest in is pushed to the lower end of it's trading channel or it's yield inflates to a greater than average percentage I will look to pull the trigger.
Of course, I will be looking at trading/investing in stocks that raise their dividend with special focus on stocks set to raise their dividend with their next announcement. Stocks I am looking closely at investing in now include most prominently Ensco, UPS and OHI with Chevron close behind. By investing I mean long term buy and hold, by trading I mean selling out of the money puts. Thank you.
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