The last week was horrible for the stock market and people point to the fear of Greece exiting the Eurozone. This resulted in stocks getting slaughtered... which was great news! I jumped on an opportunity to get in on Rogers earlier in the month and last week I made a couple more moves.
I increased my position in Weston and added another member of the Big Five to my portfolio; The Bank of Montreal. As I mentioned before, I ran out of cash with the Rogers move, so to fund the plays I had to sell an ETF (which I was planning to eventually do). The ETF didn't pay any dividends so as a result my yield should be higher for the next dividend progress report. The downside was that I had to sell it at a loss, but I considered the opportunity cost of sitting on an ETF that generated nothing when I could have BMO giving me 5% annually so I took the hit. I can also use the loss to offset future gains so it's not all bad.
Now I'm really strapped in terms of cash. I'll have to find more money somehow because I feel that some bargains may be headed our way if the economic outlook becomes bleak again. Worse comes to worse I can keep selling my ETFs at a loss to get better positions.
-the Paperboy
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