Yesterday, was a sluggish day for the markets as not much happened. People have been focused a lot on the Bitcoin collectible coin as it has been surging up and down violently in the past two weeks, but it finally had a day where even it didn’t draw much attention. However, gold managed to rally back up towards $1900 and is inching towards my target of last year’s highs.
You need to remember, though, what setup this current gold rally was the double bottom it made in March and April.
Bitcoin gurus who keep predicting massive gains really need some sort of constructive bottoming formation to come in for the price to rally in a sustainable way. Until that happens they are really just talking nonsense, and that’s why so much of the crypto talk you see on social media now is no longer about the trend, but simple crypto fantasies. Bitcoin will never replace the dollar, because it does not function as money in the real world and is not a store of value.
I prefer to buy things that are in sectors beating the market and invest in stocks with earnings and dividends. Stocks represent ownership in companies, whereas crypto currencies are simple collectibles people look at on their phone and app, like NFT art. I also personally rather buy bullion or mining stocks, instead of collectible physical coins too. I’m just not into paying collectible premiums.
On Tuesday I did a post about the stock sectors now beating the market. This morning I want to show you three nice dividend stocks that I own now.
The first is shipping port stock SFL.
I actually first mentioned SFL and bought it back in February when it completed a reverse head and shoulders or “W bottom formation.” That launched its current big rally. It is a major shipping stock and pays a 6.9% dividend.
The next stock I want to mention is energy royalty stock KRP.
I bought KRP months ago, but it looks like it is pausing here. It is paying a 7.46% dividend.
And finally, I want to mention gold mining giant NEM.
NEM has had a big rally in the past few months and you can see how the price of gold has helped bring buyers to it. Even with this rise it is still paying a 3% dividend. I still own it.
There is no real good entry point in it right now. It would need to pause here for a few weeks around $74 to give you one.
One stock, though, that is consolidating right now is my top small cap stock for this month. For the details on it check out my first post on it here.
-Mike
