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HOLDING PATTERN. MDLX

October 31, 2017

The stock market keeps spiking upward and is getting frothy.
We continue holding a lot of individual corporate bonds as we do not expect rates to go much higher.  We also hold baby bonds and are buying only when they go ex-dividend and drop to buy levels…..see the note below.  SO we are in a holding pattern.
There are a half dozen new positions that we want to buy.  But they keep going up in price and we are not able to get reasonable prices.  So we are waiting for a possible pull-back in the coming month…..which might give us an opportunity to buy some targeted positions at lower prices.
The Core Portfolio Cash Position is now at 10% which is still too low.  We suggest you get rid of any non-performing positions you may have.

fox river tire

MOVIES:  Victoria & Abdul is certainly a movie worth seeing.  At least it has a story and is not two hours of special effects.

MDLX is in the Core Portfolio…..and is going ex-dividend Oct 31.

You have two choices:

You can buy now at $24.80, get the dividend, expect a pull back in the price and also expect the price to go back up to $24.80

As current owners, you can wait until the ex-dividend date, get the dividend and then add at the lower price around $24.40.  We typically choose this option.

We are watching SYF for a buy, but at lower prices.

_____

The Republican Party is a disaster….can they get their act together?

Senate Majority Leader Mitch McConnell’s grip on the Republican leadership is shakier than ever, with a new Harvard-Harris poll showing that a majority of GOP voters want McConnell to resign.
The poll, provided to the Hill, found that 56 percent of Republicans want McConnell out. It also found that he has the worst approval of any politician in the survey, with a meager approval rating of just 16 percent.

The poll also found the Republican Party, while holding both chambers of Congress and the White House, has a rock-bottom approval rating as it fails to deliver on President Trump’s agenda and their own campaign promises, such as repealing Obamacare and cracking down on illegal immigration.

Just 29 percent of voters approve of the job Republican lawmakers are doing, with only 53 percent of GOP voters approving of their job. The Democrats meanwhile, have a 39 percent approval rating, and it viewed favorably by 68 percent of voters.

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