I don’t usually treat my blog like a trading diary, and I don’t intend to spit out a bunch of numbers that no one can read or won’t yawn over. But some readers have asked me to share more of my successes, and so in that vein I’ll keep you posted on what I’m buying, saving, etc.
Yesterday I bought some Intel (at $12.44) during the midday stock market slump. I had just received a check from some online income (in US dollars) and so I deposited it into my US dollar checking account, and from there transferred it into my US Dollar cash trading account.
Now, although I’m a bit skeptical overall on the US economy and most US stocks, certain ones get my attention because they either have
(1) huge international exposure,
(2) lead in their industry and/or
(3) make indispensable durable goods.
I think Intel fits all three criteria. It makes a solid, valuable product. Not something derivative or hard to understand. At least, this is how I rationalize it to myself. I know that Larry Berman gave it a solid “BUY” recommendation about a month ago on BNN. Moreover,
(4) the IT/communications technology sector and business is only going to grow going forward, I think, especially with emerging markets coming back on board.
(5) Intel also pays an almost yearly growing dividend and seems to have been very responsible with the size of the increases over the years and, importantly,
(6) I use some Intel products and understand them.
The last time I waded into the fast-flowing river that is the technology sector, I had bought shares of Nortel at its market peak back in 2000! That was my first stock purchase. Since then I have not given a second glance at most technology stocks. But Intel seems different, they have more of a competitive foothold in the sector. What do you think? Someone here has got to be more familiar with tech stocks than I.
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