Catching Up: Recent Buys, Black Friday and a Milestone

Black FridayTime is like a Terminator. In the words of James Cameron and Michael Biehn, “It can’t be bargained with. It can’t be reasoned with. It doesn’t feel pity, or remorse, or fear. And it absolutely will not stop, ever.”

Lately time and its inability to slow down has been my adversary. As a result, new material here at Dividends with Children and my perusing other investing blogs has suffered. Between the dreaded day job, my wonderful family, and earning extra income to fuel investments, there’s been next to nothing left over.

Today I decided to carve out a small niche of time and play a little catch up. Despite struggling to find the energy and time to post a new update, I was busy on the investing front and made several purchases over the past few weeks.

The first buy dates back to November 11 and was my first formal position in the holding after FRIPing a few shares. I bought 35 shares of BP for $41.40 a share, totaling an investment of $1,456 including commissions. I made this investment with the asterisk that I would add to it if the share price dipped below $40.

The next purchase came on December 26, the day before Thanksgiving. Energy stocks were taking a hard hit and the OPEC meeting was coming up in less than 24 hours. I had capital ready to make multiple purchases and speculated that oil-based stocks would spike or drop sharply following OPEC’s decision.

I was willing to gamble ahead of the OPEC meeting with one purchase at the then-current levels, so I bought 42 shares of BBL for $50.55 a share, totaling an investment of $2,130.10 including commissions. This marked my third buy into BBL and lowered my cost basis under $52.

When OPEC chose not to curtail oil production, Black Friday sent oil stocks plunging to the tune of roughly five to seven percent each. Many of my key oil and energy holdings dropped below my cost basis as a result, and I started feeling the Black Friday shopping spirit begging me to browse the market’s aisles. And I did.

Black Friday turned into the most aggressive stock buying day I’ve partaken in yet. I didn’t start my car, stand in line or fight to grab the latest and greatest whatever. What I did was much more fun.

I first bought 13 shares of CVX for $108.62 a share. Then I bought 16 shares of XOM for $90.27 a share. Next was 38 shares of BP for $39.26 a share as foreshadowed in the previous BP purchase. And last and frankly least was 28 shares of OKE for $54.06 a share.

Three of those purchases are up handsomely already while the fourth was previously one of my smallest holdings that needed beefing up. In the end the share price is largely inconsequential as these stocks will be held for the next decade or longer barring an apocalyptic event.

As the market gives it takes away as well, and my highly speculative play in SDRL came back to bite me in the rear. I didn’t have a large position, but it still hurt seeing $400 in dividends a year wiped out in an instant. If SDRL were a large position I’d have already sold and moved on. Since it’s small and I don’t need the tax loss, I’ll leave it be for the time being and move on.

In the milestones department, this flurry of Black Friday activity pushed my taxable account over $200,000. I’m still digesting that enormous figure and am waiting for it to set in. Now my sights are fixed on reaching $10,000 a year in forward annual dividends and the hope is to reach that goal sometime in 2015.

Hope everyone had a happy Thanksgiving!

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