What's amazing is people selling their yield at 5.3% now to go where?
The question begs itself as why people are willing to abandon 5.3% yield to go where?
I've posted several times in recent week or so that NEM's future year payout ratio of 34% (dividend / FY EPS) is lower than practically every defensive consumer cyclical, drug, utilty, what have you payout ratios.
This is looking like a buying opportunity, but when? I'll gladly give up my 4.00 opportunity loss this week, in order to justify a buy maybe next week, or the following week when NEM's momentum justifies that I'm not trying to catch the falling knife right now.