Good news! It’s looking like an unusual October.
In contrast to what we’ve seen the last couple of years, the Stock Challenge Index (SCI) looks to be on the rebound this month. Signs of the bounce back were visible from day one, but the Index really took off on Tuesday, Oct. 12th.
The vast majority of these gains have been led by mineral exploration and natural resource companies. As inflation continues to grow, with no end in sight, investors are now starting to throw some weight behind gold and silver, and related stocks. See the charts below and notice the correlation with the SCI.
Perhaps not surprisingly, energy stocks have also amassed noticeable gains in the last two weeks. Canadian oil & gas explorer, Sintana Energy, is up ~58% (one of the top 5 performing stocks so far), and most of the uranium stocks selected this month are also showing double digit returns.
Top Performing Stocks To Date
Notice how ESG momentum is on display. The top 3 performing stocks all serve the clean energy industry.
Outlook for the Month: Green Energy v Inflation
With more than 60% of selected stocks generating positive returns and more than half of all contestants finding some yield, October’s Stock Challenge will almost certainly go down to the wire. See the current standings…
It looks a bit like a battle between inflation hedge and green momentum. It’ll be interesting to see which of these two trends wins the day at the end of the month.
There are 13 days left to select your stocks for November’s Stock Challenge. Click here to get in now.
Best of luck for the remainder of the month!