Hold All Positions and Your Open Order to Buy RGLD.
You’re doing OK in the Income Investments section, and I will ramp up the income positions as soon as I get more clarity from the Dow and from the mining sector.
So, for now …
è Even though miners could fall further, maintain your open order to buy one of my favorite royalty mining companies, Royal Gold, Inc. (RGLD). RGLD receives royalty streams from 38 producing and 24 development gold and silver properties.
It is the best-of-the-best of royalty companies, yielding 1.4 percent at its current share price of $65.71.
My recommendation: Using 3 percent of the funds you have allocated to Income Investments buy Royal Gold, Inc., symbol RGLD, on a pullback to $60. When filled, place a good-till-cancelled protective sell-stop at $51.33.
Do not chase the stock.
Meanwhile …
Hold Westlake Chemical Partners LP (WLKP) from roughly $19.75 … and maintain a good-till-canceled protective sell-stop at $18.07. Your open gains are 16.9 percent, including an annualized dividend yield of roughly 6 percent.
If not on board WLKP, use 5 percent of the funds you have allocated to Income Investments and buy at the market. Be sure to place a good-till-canceled protective sell-stop at $18.07.
You should be long shares in GAMCO Global Gold, Natural Resources & Income Trust (GGN) from about the $6.27 level. GGN pays out a healthy $0.07 per share per month, amounting to an annual yield of better than 15.6 percent.
Hold GGN, and maintain a good-till-canceled protective sell-stop at $4.21. Reinvest the dividends to compound your return.
If not on board, you may purchase GGN at the market, using 5 percent of your Income Investments funds. Place a good-till-canceled protective sell-stop at $4.21.
You should have been stopped out of Western Refining Logistics LP (WNRL) on November 8, for a small loss of roughly 0.97 percent, including dividends received.
