After Southern Copper (PCU)'s awful Monday put it down 43% from its high after I last bought it in January, I had my sell order lined up to dump it all this morning.
Then I took a step back, and asked myself this question:
"Self, why would I sell Southern Copper, a stock that pays me an 8.7% yield for the privilege of owning it, while holding on to the stock of similarly bearish Foster Wheeler (FWLT), which pays me absolutely nothing?"
To which I had no good answer. So I sold all my FWLT, and used the proceeds to buy more PCU.
When I said I'm liking dividend stocks earlier this year, I meant it. Which means when I finally get around to naming August's Stock Of The Month, it will be guaranteed to have a big, fat, stable dividend.
And Capstone Turbine (CPST), you nauseatingly-volatile, non-dividend-paying friend of mine, consider yourself warned.
