XLF, Banking and Financial Sector Stocks

Top 69. Dec 17, 1999 10:01 AM

» Thruhiker - Kirk

Enjoyed our back and forth on bank stocks; actually added to my BTO position yesterday. Be interesting to chart the total mkt, XLF and BTO a year from now.

-- posted by Thruhiker

Top 70. Dec 17, 1999 10:48 AM

» Kirk - Yes, this forum is proving to be rewarding.

Yes, this forum is proving to be rewarding - mentally as well as, hopefully, financially!

I ALMOST bought some BTO today using Fidelity but I couldn't do a switch from a Fund to a "Stock" in a single day (and not enough cash to cover it) without a broker and a $110 charge... I then decided to check on my "getting Select funds with no load" and found that all my Fidelity Funds that transfered from HP came with "Full Load Credits" meaning I can switch into select funds or other 3% Fidelity Funds without paying the load.

The SAD NEWS is that once I purchase stocks or non Fidelity Funds, these credits are GONE! Much of my buying has been from selling FCNTX on strength and buying bargains elsewhere. Now I will try to use the sector funds to keep my load credits and do stocks outside the IRA.

Pretty compicated with Fidelity but I am glad to finially understand the why and how of what I can do on the web vs with a broker for my IRA.

I think I might add $2K to my deductable Schwab IRA and buy BTO with that. Commission is 1.5% at that small level so maybe I need to mix it with some other stuff elsewhere. I prefer taxable as I don't know how it pays dividends and capital gains and I prefer to not generate these in taxable accounts.

-- posted by Kirk

Top 71. Dec 20, 1999 9:14 AM

» Kirk - XLF @ $23.000

I used the "Limit" feature to scoop up some XLF between the bid and ask to pay for the commission plus a dinner out had I gone with a limit order.

Moved 1% of portfolio from Fidelity Value to XLF (closing my position in FDVLX). Figure I will have a lower tax bill next year if nothing else! 8)

-- posted by Kirk

Top 72. Dec 20, 1999 9:25 AM

» SteveT - Lower tax bill

Kirk do you have any info on what XLF pays out in dividends? I have looked a little bit and have not found the info yet. If yield is to high it could raise that nasty ol tax bill.

-- posted by SteveT

Top 73. Dec 20, 1999 9:47 AM

» SteveT - Found it

direct from the horses mouth. Yield 1.3% last dividend .2824 on 9-17-99.
link

-- posted by SteveT

http://options.nasdaq-amex.com/indexshar...

Top 74. Dec 20, 1999 9:50 AM

» Kirk - XLF Distributions

Steve, the fund I sold paid about 15% and ONLY went up about 4% for the year (from memory, so don't quote me)

XLF was in the 1 percent by Memory...
Even if it was all in the highest yielding bank, I might only see 4%.

SPYDER Dividends
http://options.nasdaq-amex.com/indexshar...

CBS Marketwatch says 1.46% http://www2.marketwatch.com/quotes/exten...

and Yahoo! says 1.3%
http://finance.yahoo.com/q?d=t&s=XLF

-- posted by Kirk

Top 75. Dec 20, 1999 10:13 AM

» Kirk - 2nd test of the local bottom?

2nd test of the local bottom?

<img src=http://chart.bigcharts.com/bc3/quickchar... width=430 height=218>

For the last 3 days, XLF has penetrated $23, but not continued its decent.

Click for better image
http://ichart.yahoo.com/w?s=xlf

-- posted by Kirk

Top 76. Dec 20, 1999 1:14 PM

» MichaelC_AU - My bank is low.

The CNB, Colonial Bancgroup I own is down to $10 1/4. My basis is $6 1/2. I dislike being this heavy in one stock. I reinvested a years worth of divivends in it today.

I should have put it in vtsmx when I left their employment early 1998. At the time the stock hit $19, then not only would have sold at double today's price but I would have had a modest increase in vtsmx.

-- posted by MichaelC_AU

Top 77. Dec 20, 1999 4:31 PM

» Wendell - XLF and BTO

I am just wondering if XLF and BTO are funds or stocks. I guess everyone can tell how much investing savvy I have by asking a question like that. Anyway, any information would be much appreciated. Wendy

-- posted by Wendell