June 2014 Trading Portfolio.

Our current trading portfolio.  We continue to be very careful about buys and option sells with the market at all time highs.  Times like these are when doing nothing is the best move in many cases.  However our strike prices should offer good entry points for long term holders. 

APPL...We have three positions in this stock.  $490, $500, and $550, all seem safe, but we do not want any more with Apple selling at $633 plus.   We will wait for a sell off before buying more or even renewing any options we own. 

AFL...Strike price of $57.50 with this solid insurer.  We will continue to trade this single digit PE stock.  Safe for long term we believe. 

ARCP...Large sell off recently have put us modestly below our strike price of $12.50. We continue to like this triple net REIT, but the deal with Red Lobster does cause us to pause. Investors should consider a position here for a 8% dividend and capital gains. 

BP...Strike price of $45.  Good stock, good price, and lowest PE in the industry. Still undervalued due to Gulf spill issues. 

HFC... This well run oil refiner which we own at $42 continue to make us money and give us comfort.  The lack of oil pipelines makes for cheap oil to refine and sell at a large crack price.  Obama's recent decision makes this refiner a safe bet for several more years. 

IBM...We are in at $175.  Warren Buffet is in higher than we are so sleep is good at night.  Could be a value trap too. 

JPM...We still believe this big bank is not being given it's just place in the valuation game and we still own it at $50.  Forward earnings make it a single digit PE. 

O...Steady eddie triple net REIT.  Might be one of the safest stocks to own right now. Great list of properties bought at the right price and with cheap mortgage rates too.  Our strike price is $40. 

PFE..We continue to look for openings to move into this security.  We are looking at $27 with this single digit PE drug producer.  Much of the drug expiration issues are behind it now.  With Obamacare the opportunity to make money is significant. 

PM...We have it at $75 and still like it despite the recent move up to around $90. 

SF...We are liking Stifel Nicolaus more and more as a smart acquirer of bolt on financial businesses.  At $40 our strike price we would buy a boat load. 

SHLD...Sears at $34 is good for us right now. But we remain careful about how we trade SHLD.  The deal here is for real estate and not retail. 

T...Solid dependable telecom that continues to make us money month after month. 

VZ...See our comments on T above. 

NNC...We now have our largest net long position in this municipal bond fund of any security we have owned in years.  Our current return from our original purchase in January of 2014 has been in double digit percentage.  We just bought another  large block and if there is a small sell off will buy some more.   The fund is still selling at over ten percent plus less than net asset value.  With continued low interest rates this buy is a no brainer.