The Markets

• It was a better day than the Dow averages would have you believe.  The S&P was up 1/2%, volume was good, advance/decliners positive, new highs better than new lows and until the last fifteen minutes the trend had been up.  Another consolidation day that will be but a blip on a long-term chart.
• Put a lot of money to work, primarily in junk bond funds, JNK and HYG.  Began the process yesterday and I bought more as things moved up a little.  I would like to add on any dips.
• Continued to add to income generating ideas.  The bond funds offer terrific current yields.  In addition bought some Florida Power & Light preferred (FPLprf).  This idea came from my friend David, in Connecticut.  Of course, he had bought it a point better.  This is a new issue and has no track record but offers to pay 8.75%.  Also added Philip Morris International (PM) with a yield of 5.6%.  And added a little Annally (NLY) with a 13+% yield.  This had given up the gains shown just after initial purchase.
• The idea is to have enough dividends coming in to cover expenses.  That way the corpus of funds should remain undisturbed.  Hopefully.  Of course, there is market risk and I will continue to use stops so my hopes for future income may be dashed by sell triggers.

Sidebar

• Tonight is our Home Owner Association’s annual meeting.  I have been president for five years, or so, and am stepping down to tackle the elected job as board member of our Council of Associations.  This is already proving to be more time-consuming than I had bargained for.  And, it has already stretched my political skills.  Now, instead of just doing a job myself and getting on with things I actually have people criticizing me!  Harumph!   Now I have to be a team player. Woe or woe, what I have wrought.

Have a wonderful weekend!