The market is consolidating rather well, considering all the global political instability. Today I purchased the following two positions:
HACK is an ETF that invests in cyber security companies like Cisco, CyberArk, and Palo Alto Networks. Market volatility has driven this fund down below its 100dma, but I think long term it’s an excellent growth sector and I’m willing to wait till things turn around.
Devon is a midsize oil and natural gas exploration company. They announced yesterday that they’ve reached an agreement to sell nearly all of their Canadian oil sand operations. Given the high production costs of oil sands, I think this is an excellent divestiture which should help not only reduce debt but also increase their overall profitability. Also, considering that Chevron was outbid on the Anadarko takeover, I believe that without the oil sands, Devon is now an attractive acquisition target.
Thanks for all the response to yesterday’s post, I’ll be discussing the Walmart sale in the next episode of the Wealthsteading Podcast- probably to release tomorrow.
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