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For traders and investors looking to play the hard asset trade ahead of what is expected to be another round of quantitative easing from the Federal Reserve, here is a fairly straightforward pick - buy the SPDR S&P Metals and Mining ETF
XME. The near-term chart pattern looks solid, and the ETF's risk profile is substantially less than buying an individual stock such as Freeport-McMoran
FCX or Alcoa
AA.
During today's trading session, the XME has gained 0.95% to $55.07. On the three-month chart, the ETF has surged 23%. It has a beta of 1.6 and a market capitalization of $732.43 million. Around 2.88 million shares trade each day, on average. The ETF's 5 largest holdings are Stillwater Mining Company
SWC, Arch Coal
ACI, Coeur D' Alene Mines
CDE, Hecla Mining
HL, and Alcoa
AA.
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Posted In: Long IdeasTrading IdeasAluminumCoal & Consumable FuelsDiversified Metals & MiningEnergyMaterialsPrecious Metals & Minerals
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