S&P negative on U.S. debt Standard …

S&P negative on U.S. debt
Standard & Poor’s cuts its ratings outlook on the U.S. to negative from stable, keeping its Triple-A rating on the world’s largest economy. Stocks decline even as Treasury Department mounts defense.
• Text of S&P’s downgrade of U.S. ratings outlook | Treasury yields fall to lowest in three weeks
• Budget proposals from both Ryan and White House would boost U.S. credit: Moody’s

And good morning to you too! Markets down 1.5% across the board here early and I wouldn’t expect to see a big intraday reversal to the upside. That said, this could end up being a pitch we’ve been waiting for as we’ve been slowly building this portfolio and looking for new price entry points.  Now that said, we’ve only got a couple of our highest beta stocks — Riverbed and Nokia — that are meaningfully down.   “High beta” means that the stock is much more volatile than the broader markets on most given days.  Riverbed and Nokia certainly fit that bill.

I’ve not pulled any triggers yet this morning, but I do expect I’ll nibble and build into another tranche or two if the stock prices fade lower today or tomorrow.

Let’s rock.