Important Portfolio Update: Take Profits On Two Suggestions, and Set a Hard Stop Loss for Our Newest Pick
It’s time to take profits, as well as make sure we set a hard stop on one of our new suggestions.
Sell Lithium X
We need to take profits on Lithium X (TSXV: LIX & US: LIXXF). We suggested the stock to you in March for CAD$1.11, and today, we are suggesting that you sell and close out your entire position for a 76% profit!
If you had invested $10,000, you’ll be clearing a $7,600 profit! Now that we’ve locked in profits, we can look for new opportunities.
Please note that Future Money Trends will no longer be covering Lithium X.
Sell York Water
York Water has been a long-term recommendation for this letter. We first brought it to you in August of 2014, and then again last year in October.
Depending on where you bought, you should have a gain of 45 to 68%! Though we are still very bullish on water stocks, we believe the upside for York Water is extremely limited here.
Let’s take profits on York Water and look to re-enter when it falls below $20 per share. Today, we can take gains at over $32 per share.
Set a Hard Stop Loss
On Friday, we recommended a new pick, Winston Gold Corp. (US: WGMCF & Canada: WGC) at $0.37. It’s currently trading at $0.42, for an increase of 13%. However, the recent increase in buying volume is being met with some heavy selling.
To be safe, we highly recommend you consider a hard stop at $0.40 in the U.S. and CAD$0.54 for the Canadian side. We are not recommending selling Winston Gold, but please note that these are key levels where we suggest to close out your position if it falls further.
We love the company, projects, and management, but sometimes there are other players involved who can ruin a good thing, and we can’t play that game with our money. So for now, let’s hold tight, but have a hard stop ready in case further selling persists.
We will look to enter this company again at a later time, but for now, it’s best to hold off, in our opinion.