Stocks have dropping off at end of the day for a long time even when the markets going up. I hope my joking about, short's hasn't been taken too seriously. I short myself sometimes, I don't think your short position has anything to do with the stock price falling, I'm just trying to get someone to laugh.imo
Some peoples do decide to sell and take a Profit and consequently the price does lessen , whereas when they BUY ( as it showed today ) the Price does RISE . How one can determine that a price not closing at it's daily high is a new one to me . And one in which you will never convince me of , especially when the worlds population is increasing and the demand for minerals , metals and fuels will only will only get greater . " Supply and Demand " determines price .
FCX is nicely over the $49.20 200 day moving average, which was a challenge just a few days ago
Today, every time FCX got knocked under $50 it recovered fast. There were buyers on those pullbacks
I thought that was bullish, and I'm not a great chartist like several on the board, but to my feeble eyes the FCX chart looks good. It crossed the 18 day moving average, stochastics are up, MACD turning positive while RSI still only in the low 50s
I think it has room to run. The upper bollinger band is $53.80, and I would say the next goal is the 100 day moving average around $52.80
However Mary and Melf are the experts. I defer to their assessment