History Says Buy These 25 Stocks in March
Amid the chaos of geopolitical tensions and rising Middle East conflict, it can be a comfort to return to quantitative data. It was even more of a comfort to see Newmont Corporation (NYSE:NEM) -- a frequent flier at Schaeffer's --land on a list of the 25 best S&P 500 Index (SPX) stocks to own in March, historically, in the last decade.
NEM is set to open March lower, down 1.3% at last glance. But according to data from Schaeffer's Senior Quantitative Analyst Rocky White, over the past 10 years, NEM averages an impressive March gain of 7.8%, finishing higher 90% of the time. From its current perch at $128.30, a move of this magnitude would put the gold mining stock above $135 -- a new record high.
The equity has consolidated on the chart since a Jan. 29 record high of $134.88, with support from both the 50- and 80-day moving averages in place. Over the past 12 months NEM has surged 195%, and this short-term rangebound trading is forming a bull flag pattern that can lead to the next leg higher.
Puts have been much more popular than usual over the last 10 weeks, per Newmont stock's 50-day put/call volume ratio at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks higher than 72% of readings from the past year.
NEM tends to outperform options traders' volatility expectations, too. This is per its Schaeffer's Volatility Scorecard (SVS) of 79 (out of 100).
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ripple Partner Reaches One Million People With Safe Water
NASDAQ TRADE HALT CONTINUES <UCFIW.O> REASON NOT AVAILABLE AT 03:58 AM
VIPCross-Asset Positioning Amid AI Earnings Scrutiny and the US Election
1. Markets diverged during the week. Between the October 23 and October 30 closes, BTC fell 4.78%, the Nasdaq 100 declined 1.98%, and gold and silver dropped 2.72% and 8.59%, respectively. The DAX, KOSPI, Nikkei 225 and Hang Seng advanced. We focus on differences in growth prospects, valuation sensitivity and risk exposures rather than applying a single directional view across assets. 2. Market reactions to Alphabet's and Intel's earnings brought returns on AI investment into focus. Attention is shifting from the scale of capital expenditure to revenue realization, margins and free cash flow. Lower interest rates can ease discount-rate pressure, but a sustained valuation recovery still requires support from both operating performance and financing conditions. 3. The November 3 US midterm elections and November 6 employment report are key events in the coming week. We monitor how post-election fiscal and legislative agendas may affect interest rates, the dollar and industry operating conditions. Our execution priorities are to manage leverage and concentration, retain margin and exit-liquidity buffers, and avoid treating a single political outcome as an automatic trading signal. 4. Following Binance's disclosure of a security incident, industry attention to endpoint protection, access segregation and coordinated incident response has increased. Key assets to monitor: BTC, the Nasdaq 100, crude oil and gold, alongside upcoming earnings from AAPL, AMD, PLTR, ARM, ANET and QCOM.
HYATT HOTELS CORP <H.N>: JEFFERIES RAISES TARGET PRICE TO $188 FROM $167
Crypto prices
More
