Quick Win by the Algorithm: XME ETF Growing With the Metal Industry

Quick Win by the Algorithm

On November 13, 2016, the I Know First algorithm had predicted a bullish forecast for SPDR S&P Metals & Mining ETF (XME).  XME had a signal of 26.43 and a predictability of 0.51. In accordance with the algorithm, the company reported long-position capital gains of 10.67% experiencing a quick win by the algorithm.

quick win by the algorithm

SPDR S&P Metals & Mining ETF (XME) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the S&P Metals and Mining Select Industry Index.  This fund focuses solely on US stocks and is equally weighted.

In the last year, XME has performed very well as highlighted in the previous yearly quick win that can be found here. Today, the metals industry, which is what XME primarily focuses on, is booming in the United States. As stated in the previous article, it has do to with the new President-Elect. Trump has promised new infrastructure and movement from offshore manufacturing back to the United States. Both of which are positively affecting the metal industry. AKS, a steel manufacturer in the United States, is the largest holding in the XME ETF. Recently, AKS has been on the rise with the the steel industry. This is partly due to the restrictions President-Elect Trump will impose on Chinese Steel imports.

Gold and copper are also seeing growth. Copper is growing to historic heights of 24% in only one month and gold price increases as the United States dollar begins to decline.

This bullish forecast on XME was sent to current I Know First subscribers on November 13, 2016. 

Before making any trading decisions, consult the latest forecast as the algorithm constantly updates predictions daily. While the algorithm can be used for intra-day trading the predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.

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