RE:RE:RE:RE:RE:Oupsss Now let's look at the contrarian bearish setups. The table below shows the sectors that have the smallest percentage of their stocks above the 80-day moving average. Oil equipment has performed horribly yet a significant number of analysts still like those stocks. I’m going to focus, however, on the mining sector, which is the only sector whose average stock return is negative over the past year. The percentage of "buy" ratings on those stocks went from 64% to 68%.
Here are some of the stocks from that mining sector. This would be a list to search for potential put option plays. SilverCrest Metals (SILV) and Yamana Gold (AUY) are stocks that fit the mold of poor price action but bullish sentiment. For SILV, analysts went from bullish to even more bullish. A year ago, 71% of analysts ranked the stock a "buy," and now all five analysts tracked by Zacks have a "buy" rating. AUY, which has fallen by 40% over the past 52 weeks, shows 63% of analysts rating it a "buy," up from 44% a year ago.
