Robb, I think a correction may well be in order, but the sequestration is NOT the government shutdown that the debt ceiling scrimmage represented. On down days like today, I am adding CQP, especially early in the day when the drops tend to be steepest. I am building a position towards 2015 and, in the meantime, harvesting the dividend of 7.3% I am building to a weighted cost position of around $100K and then plan to ride it out barring extraordinary news.
If the market corrects, I am a buyer of Costco and CLNE. I am deferring on buying Overstock.com for exactly the reasons you identify in the WMT numbers and as I fear a second tech bubble may burst and take down AMZN, GOOG and PCLN as it has already previewed with Opentable and AAPL. OSTK will get hammered in the crossfire if that bubble gets punctured.
By the way, OT to milo: I found your Bogle wine on sale at Walmart for $9.97 a bottle. We'll be trying a bottle with steaks on the grill, tonight. Thanks for the tip!
GLTA,
Yank
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