This deal will cast focus on the undervalued nature of FCX and send it soaring. Rio up 30 per cent in pre market, acquirer up 8 per cent. this is almost unprecedented. shorts are going to be crushed today. Gapping to $118 very quickly, then on to record high. congrats patients longs you deserve it. die, day traders/morons. you deserve this pain. and you moronic day traders please don't write that you got in at $108 this morning . . . because you are lying. only market makers are getting hands on stock this morning.
I respectfully disagree.
With BHP buying Rio there is now very little chance of a takeover bid for FCX (BHP is one of the few companies capable of swallowing FCX). This is likely to depress (in the medium-long term) the stock price.
Fundamentals (Copper price and inventories) will now drive the stock.....and the fundamentals are starting to deteriorate.
NY- Sorry but I am very confident that just the opposite of what you believe will take place in the near future. Also did you ever consider that RIO might now be interested to acquire FCX......if nothing else but to ward off the big bad wolf (BHP)
FCX was a much smaller company than PD and look what happened. RIO is more than 4 times bigger than FCX so that would be a likely candidate. Usually, mergers spur more consolidation to become more competitive.
I enjoy your optimism, but you need to tailor your expectations - $120 (a $12 jump) on a day/market like this is simply not realistic.
I'm a long but think the day trader ire is simply silly. They employ a different strategy, so who cares if it works for them or not. In fact, given FCX's recent volatility, it would be senseless for day traders to not be activley trading this stock.
Ya know what I LOVE best about all the TRADER HATERS???
At the end of the day I laugh at how much I made trading and how much they LOST holding. FCX was at 120 several weeks ago. If anyone bought above 114, since then, they are DOWN. Those of us that trade daily, have made a LOT of money in that time frame.
Why is this SO DAMN HARD to understand??? Stock made an over $8 swing this week and if you traded it, you made a LOT of money.
If you like to buy and hold, that is great and best of luck, but for those couple of you that thrash on us traders, just shut the hell up and accept the fact that there are others out here that do things different than you and you are too stupid to figure out how to do it yourself. Or just sit back and watch us make money while you loose it.
113.35..........yeah you gotta lov the day traders that proclaim their BS....if they were 1/10 has good as posted.....they would be on the wall st floor w/ vandolf selling OJ futures.
congrats to stockholders.....well could get a short squeeze in here twd 120
I have been trading FCX for appx one year. Had many ups, and downs; I did however buy yesterday a 3:59. Believe it or not there some of us that buy on dips. I'm thinking tis RIO catalyst may ignite FCX to it's approprite value.
My guess, is that the fundamentals haven't changed, copper prices are still falling, copper supplies are up. Don't count on it to continue, after it goes up, do a short... Remember the market can't hold up for more than 1 day. Things have not changed... FCX was going down before the RTP announcment, and once the emphoria is over things will go back down... Not being a flamer..... Just my opinion..