you people write stupid stuff. the shorts are happy because fcx is part of an index that goes down related to oil. they put out a press release saying they are putting out 80% of capacity because of local politics.
And, if I may advise you a bit, it is important to be mentally agile. This was a good short trade for many of us, and now appears to be a good long trade . The mental agility is important in knowing when to reverse and go the other way. Suggest you read Bellafiore's "One Good Trade".
trying to "talk" a stock down. Comments are obvious. Everyone can see oil falling as well as most commodities. Duh .. It's like a weatherman sticking his hand out the window and telling everyone it's raining. FCX was trending up until OPEC decided to play chicken with US producers.
Right. That's exactly what you're supposed to think. You must learn to think counter-intuitively. The short trade was very good here, but just as nothing goes up forever, ....
thats what many said at 36 35 33 31.. the was never going under 30 for long. then no way we get to 29, 28. then 27 impossible and now comfortably under 27, now comes even more margin calls & tax loss selling into Dec 15th, I see 25 print looks very likely within weeks and by january earnings disaster 24 print has a shot.. GL
Lots of trash talk on this board which is to be expected, and which will be silenced soon. The move up will be unexpected and violent, and we won't have to wait long. Happy to be fortunate enough to get in below 27.
FCX debt is rated by rating agencies as "investment" grade. Just went to market to raise 3B in new notes to redeem higher cost debt and extend maturity no problem doing this result is lower interest rate and longer maturities a win win for company. GLTA
My guess is you will be filled Monday...12/1...expect these shares to drop to high $24's or $25. area by sometime next week...with oil sliding another $2-$3 dollars a bbl....next week and gold dropping to $1,140. area....next week as well....
perhaps you might wish to keep just enough fcx as to not be addled by over concentration of fcx in your portfolio then...i dunno...of course i understand your concern...it's gonna be a bit rocky in the oil-patch for some time to come...as the many credit backed long oil accounts finally come to settle and square things up over the next many weeks....
plenty of dark days ahead, the oil war will continue for at least another 6 months or more. Read the headlines, "billions wiped off energy shares as investors rush for exit." That's not the worst of it for fcx, billions in debt and dry holes, gold getting crushed, this thing is years from having any hope if ever.