All-in-all, today was like watching paint dry, but we need days like this from time to time.
The VIX has now fallen for the third day in a row, the Dow didn’t get poleaxed and the Russell 2000 was positive for the fifth straight day. Line upon line, here a little, there a little and pretty soon this thing starts to look like a rally.
I used today to continue to build positions in dividend payers like AT&T Inc. [[T]] , Verizon Communications Inc. [[VZ]] , Consolidated Edison, Inc. [[ED]] , and NSTAR [[NST]] . I also sold some covered calls on stocks. Anything to generate a little extra yield right now.
I still believe we will see a rally this month. However, it’s magnitude and longevity is now in question, given today’s ISM numbers.
Be well, and have patience!
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