never said i was long im hedged ever since we got below 25.00,, read my post carefully was 10k net short now im 2k net short i dont believe this move,, it will trade back to 22.00, (12k short & 10k long) against it as of 22.20 this am.. i trade it .. dont get to excited here i could be wrong GL
I agree Neil. Those kind of dollars show strong conviction, not a modest purchase by insiders to put some lipstick on the stock price. Our big question is when will the dollar come back to earth. That may be mid-late '15 the way things are going.
Hey J Bananas you don't sound like the person who said he is now long the stock. You claimed that yesterday. Come on man there is still one of us out there who doesn't have you in ignore. I just like keeping track of your inconsistency.
Think the answer is called significant "upside potential". Remember this was a +$60 stock four years ago ........prior to two major internal site expansions, and the diversification/purchase of additional oil assets. So FCX now has significant additional revenue potential ready for the next commodities upturn. The rebound should therefore be "exponential" for the expanded FCX............ when it finally happens. Looks like there are some recent buyers that are recognizing this potential.....and willingly ready to take the risk......... for the anticipated "significant reward".
Admittedly JB this stock has not been as easy to trade the last few years during the so called recovery from 2008 due mostly to the Federal Reserve manipulation of the economy. But now that metals stocks have bottomed (or at the least should be close to the bottom) FCX stock should now be extremely attractive to both those desiring to go long on the cycle change......as well as those traders like me that wish to trade the significant swings. We have entered a period of tremendous upside potential.........until that is that the Federal Reserve decides to raise interest rates in mid 2015, and the market gets the next significant correction. That's when I'll make my next sales of FCX.
Hold the tiller!!! We are coming about in the Lake Pontchartrain wind!!!!!
FCX holders needed a break, down day after day huge paper losses, it was about time to see something positive with the SP. The question is will it hold? Yellen's comments yesterday are a somewhat diminished extension of all the past QE measures. Generally markets go up, fear is reduced, and investors feel like investing again. It's obvious what's going to happen when rates do finally move up and the overhang from QE is removed from the market, the markets will in general decline severely. While this also applies to FCX, FCX's future hangs largely on the Saudi's and how long they'll keep oil prices down, FCX's ability to manage their debt, and can they stop spending billions on failed exploration projects, and please no more failing company bailouts that cost management their credibility and shareholders a whole lot of money. Don't worry about the price of oil, that will adjust in due time, the larger concern for the SP is the debt, lack of successful exploration projects, and management credibility. I'm not sure they can overcome any of those. I'd be a seller here, and give it a few months and try to ride the pop when oil prices return to normalized levels.
Have no fear, with the determination of the old man of the sea, Capt. Jim Bob will get you home.
You are absolutely correct JB. All those "buy and hold investors" that did not sell when it was +$60 pps four years ago are now lower. Most investors that buy the metals stocks understand that they are "cyclicals", not meant for "buy and hold" strategies, and are extremely lucrative if you trade the cycles routinely. Worked extremely well for me for 40+ years.