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Trade of the Day: Newmont Mining Corp (NYSE:NEM)

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On the one hand, February is not typically a good month for stocks, but, on the other hand, earnings have been better than expected so far, which is a positive for the market. Additionally, investors seem to feel the proposed tax policies of the new presidential administration are bullish, although I am not a fan of a potential border tax.

In my opinion, the market is still on a bit of a sugar high following the election, and investors may be banking on policy decisions that simply haven't happened yet. Congress is very slow, and there is going to be a lot of negotiating, so there's really no way to tell exactly what is going to happen on that front.

Meanwhile, I'm becoming more bullish on gold once again, as it appears to be breaking out to the upside following a successful test of its 50-day moving average. With that in mind, today I'm recommending a bullish trade on Newmont Mining Corp (NYSE: NEM ):

Buy to open the NEM Apr 40 Calls (NEM170421C00040000) at $1.35 or lower.

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The post Trade of the Day: Newmont Mining Corp (NYSE:NEM) appeared first on InvestorPlace .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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