An Interesting Day on Fall Street

Well, that was sure an interesting day on Wall Street, or as I've heard it called lately, Fall Street ;-)

The markets opened down over 4% after the European and Asian stock market meltdown over the past couple of days. I think the Fed rate cut helped us from going into a free fall. It sure seemed to help the financials and retail stocks, of which I have a few.

Amazingly, my CC portfolio did rather well today, up on average about 3%, while the benchmark index, VTI was down 1.05%. The best performer was CHS up over 13% and the worst performer was SNDK down 2.78%. I had 17 stocks rise and only 8 decline. Not a bad day under the circumstances.

Another interesting fact is that the two dividend ETF's that I've been tracking lately, PEY, which tracks the Mergent High Yield Dividend Achievers, and SDY, which tracks the S&P 500 Dividend Aristocrats, both ended the day up 2.31% and 1.13% respectively. So it appears there was a flight to quality and high yield, maybe due to interest rates being cut.

I didn't do any trades today, and may not for a couple of days. I'm only about 75% invested and have plenty of cash, but I want to wait until the markets settles down before making any adjustments or establishing any new positions. I'm in no hurry so it's a good time to be patient.