As July marches on and uncertainty in the markets reign, all I can think about is where to deploy my fresh capital all the while ignoring the market headlines which always seem to result in knee jerk reactions in stock prices. It seems that every week or two a new crisis dominates the headlines. We are all familiar with the Greece and China economic meltdowns in recent weeks. Of course, there is the nagging question of when the Fed will raise interest rates and now commodities are in play once again as prices for just about every commodity have been tumbling. Gold, silver, copper, oil, steel, wheat, corn and more oh my. Talk of deflation once again is rearing its ugly head. I’m not trying to downplay any of these very real issues that can affect us all in some fashion. I am trying to maintain a cool head and take advantage of falling stock prices, higher yield and better value where it pops up. As long term dividend growth investors we all know that volatility can be our friend as stock price swoons often present better buying opportunities for us all. That being said, I’m happy to share with you my second nibble on stocks for the month of July. Still sticking with my July stock considerations I have decided to buy into the Canadian banks once more.
I have added to my ROTH account 19.6093 shares at $40.70 for a total investment of $798.00 in The Toronto-Dominion Bank (TD). With this recent purchase my ROTH account holdings in TD now totals 145.0235 shares for a value of $5,873.45.
It’s no secret that I am a fan of the Canadian banks and have been slowly building up my positions in The Toronto-Dominion Bank (TD), The Bank of Nova Scotia (BNS) and Royal Bank of Canada (RY) over the past year. Looking at the rest of July the beaten Canadian banks are still in play for me along with the three large health REITs and maybe even Dover Corporation (DOV) once again.
What do you think about my recent buy? The Canadian banks are pretty beat up as of late and offering some pretty attractive, safe, current yields with much better values than in the past. Of course, REITs are getting banged up a bit as well. What are you buying in July? Please let me know below.
Disclosure: Long TD, BNS, RY, DOV