Stocks FLY! Dividend Purchases, Weekly Recap Issue #10

Hey folks! I hope everyone is doing well. Last week, we closed the door on the month of May and welcomed June with open arms. The beginning of June did not disappoint. What a week in the stock market! The market was lifted by a strong US jobs report and the resolution released for the debt ceiling battle. The market rallied on Thursday and Friday, with the major indexes pushing up around 2% Lifted by a strong monthly U.S. jobs report and the resolution of the debt ceiling battle, stocks rallied on Thursday and Friday and ended the trading week in the green. The $SPY S&P 500 index finished the week +3.20%, which pushed the index above the range it’s been trading for on going weeks. The $QQQ exploded higher, finishing the week +4.39%. The technology sector has been on fire! I know we as investors strive to buy discounted shares of quality companies on sale, but watching the green days this past week was really fun!

If you are new here, my goal is to reach financial freedom through dividend investing and rental real estate. I started sharing my journey to help educate and inspire others to do the same. Join me!

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State Of The Market

Looking at the $SPY on the daily chart.

We saw the $SPY take flight this week. Finishing the week +3.20% at $427.92 and pushing out of the zone it’s been in since April. There was a level of resistance at around $426 from August 2022 but as you can see, the $SPY blasted right through that level. It will be interesting to see if the market wants to keep running this week. I always like to keep a close eye on the RSI (Relative Strength Index) after a positive full week and observe how close it’s running to an extreme reading (70). I use it to measure momentum. By looking at the chart, we see the SPY still has just alittle room on the RSI (66) so I wouldn’t be totally surprised to see more movement to the upside. Let’s see what happens this week.

Purchases this week

For the people that have been following me on Twitter (@Smartnetworth1) know that I recently completed a goal of acquiring 100 shares of $SCHD. While I was building out that position, I wasn’t adding to my other individual stocks. This week I hit the ground running hard. I was able to capture of nice buy zones on these purchases and add to my annual dividend income. $UPS is a new holding for me so getting an opportunity to add to my position was definitely a win for this week, I was happy to grab some at that $168 zone. If these 4 stick about the same price next week, I will most likely be adding again. Buying assets every week has been the way I’ve done it from the start.

I also bought 4 additional shares of $SCHD @ $69.52. This brings my total shares to 104.

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Weekly Tweet Corner

Patience is definitely a skill. A skill that takes time to develop and be comfortable with. As a dividend investor, you have to welcome the get wealthy slow game. Patience has helped me do this. When I first started investing, I would see the dividend payments come in but I couldn’t imagine how someone to live off an income like this. I started to understand that consistency and making investing a normal habit in my life would help me develop that patience and that’s how it happened. I stayed the course, kept investing and I let the portfolio grow. For the past 5 years, I’ve learned to be patient and let time work with you, not against you. Keep going!

Thanks so much for reading!

I’m super excited to provide this weekly newsletter so THANK YOU all for being subscribers.

Until next week. Keep the focus and stay consistent!

-Nick Dividend Investor and Educator

Friendly Disclaimer: This is NOT financial advice. This newsletter and the information included is for fun and entertainment purposes only. Always consult with a professional before making any investments.

“Net Return" refers to the annualized internal rate of return net of all fees and costs, calculated from the offering closing date to the date the sale is consummated. IRR may not be indicative of Masterworks paintings not yet sold and past performance is not indicative of future results. See important Regulation A disclosures at masterworks.com/cd.