2024-01-23 15:28:42 ET
Summary
- The SPDR S&P Metals and Mining ETF goes through periods of significant underperformance punctuated by significant outperformance.
- Economic expansion and infrastructure development are reliable drivers of XME, and the upcoming election year could be a good time to buy and hold XME.
- It has recently broken out of a large bull flag pattern suggesting the time is right to buy.
At first glance, the SPDR S&P Metals and Mining ETF ( XME ) looks unappealing. It's been stuck at lower highs since its 2022 peak and still trades 18% below that high. Zoom out further and you'll find it is 74% below its 2008 peak....
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XME: The Time Is Right To Buy