IBM is off over 6%, and VMI is down again today. I'm adding to both of these positions today.
I placed limit orders for both the stocks mentioned above after writing the headline this morning, and both were filled. I bought IBM at $174.40 and VMI at $132.30. Both are below my initial position prices, and bring down my average cost. I like IBM for the long run, and I like VMI for the short to intermediate term. Both are trading at nice discounts to "fair value." I'll add a couple of FAST Graphs tomorrow with today's closing prices. (FAST Graphs take a day to update prices)
I also trimmed my position on WAG today on strength. I own WAG in both my IRA and my taxable account, and the position has grown significantly via price appreciation this year. In the Chump IRA, it was approaching 4.8% of the portfolio, where the target average size of a full position is more appropriately 3.1%. My sale takes the position from 4.8% down to 4.4%.
I also closed out an (by selling) a put contract on XOM. I'll discuss this in more detail in my next post, it was a good learning experience.
That's all for now,