by Sam Collins | August 16, 2010 8:49 am
Gabelli Global Gold, Natural Resources & Income Trust (AMEX: GGN[1]) –This non-diversified, closed-end management investment company invests in the equity securities of companies principally engaged in the gold and natural resources industries.
GGN has provided a steady dividend return, as well as a way to participate in major metals mining stocks.
I have chosen GGN as the Trade of the Day six times within the past year, and it has rewarded us with consistently good returns.
However, a break below the 200-day moving average[2] in May has not been reversed, and the August rally, too, has failed.
What is going on with GGN?
The dividend is still $1.68 and is paid monthly, and that provides an annualized dividend yield of over 10%.
But the pattern is not good, so only buy GGN on a pullback to just over $15. And if it fails to hold $15, sell it.
If you have questions or comments for Sam Collins, please e-mail him at samailc@cox.net[3].
Related Articles:
7 Back-to-School Option Trades[4]
3 Ways to Stay Alive in This Market[5]
Survey Shows iPhone 4 Users Want Verizon[6]
The Options Trader’s Guide to Technical Analysis — In his latest report, learn how John Lansing leverages the power of technical analysis to identify the short window when a trade is set to go straight up or down. Get your FREE copy here![7]
Source URL: https://investorplace.com/2010/08/stock-picks-gabelli-global-gold-natural-resources-income-trust-ggn-2/
Copyright ©2024 InvestorPlace unless otherwise noted.