Loading ...This stock is up nearly 150% in 2016 and has more room to run: Trader
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“If I was going to be investing in one of these overbought areas, I’m going to be looking at the miners,” Seymour said.
Newmont Mining, which is one of the largest components of the gold miners ETF, has surged nearly 150 percent in 2016 while the gold miners ETF, the GDX has rallied 125 percent, and gold has broken out to multiyear highs.
“Despite the fact that it’s been such a strong performer with gold’s resurgence, I look at the sector and see that its coming out of a three-year bear market,” said the managing partner at Triogem Asset Management. “I think they have a lot of room to run,” he added.”
http://www.cnbc.com/2016/08/16/stock-is-up-150-in-2016-and-has-more-room-to-run-trader.html