If you are a day trader then you should have had stops where you would have been sold out to limit your ,loss. I think that in the long run, 5 years or so, this move will be looked upon as very positive move. For now the naysayers are having their way and you need to live with your decission. You still will get a divi and I think that too will get raised. Nat gas right now is near a multiyear low and has a very positive outlook. Especially with Obama shutting down coal. If you want to try to get out with as little loss as possible then try selling calls above your price and just wait, at least you will be earning a return while you wait. Good luck to all.
Serious answer? Depends on your time horizon. Parabolic SAR still suggests lower. New 52 wk low is never good. Might get a bounce... or may get more selling.
$JJC is under pressure today, and money flow of those seeking copper exposure is streaming out of $FCX right into $SCCO. Now even $PXP is selling off, which is adding further pressure to $FCX future value.
Your best bet is a hope that $FCX calls off this deal. While they should, I don't see that happening.
There you have it... you asked and got the good, the bad, and the ugly....
Bottom line is that no one knows what Mister Market is going to do...
You made a bet and gambled alot of money...
now you can not blink and hold hoping... or fold...
It's YOUR move...no one else can tell you what is the right thing for you to do...
Later, sometime in the future, you will realize that I helped you the most.
You may end up losing even more. You did know that before you plunged in, right?
You couldn't fight the onslaught of greed. Very common.
You are now experienced.
But don't despair, I can tell you exactly what will happen with the stock tomorrow.
It will fluctuate. One thing that no one in the world knows is the exact direction.
So, I say take a loss, you don’t deserve to make money here, because you don’t know what you are doing.
Leave your money for those who are smart and experienced market participants, they are like chess players who construct their strategies slowly and methodically to trap the greedy ones and honestly take the greedy money away from their owners.
It’s all fair a game, like chess.
Trust me, with all the investment vehicles available to you for trading, you can build a risk free profitable position. But you don't know how. So, take a loss first. After you give your money to those who deserve it, start reading The Book, not the Bible, but the Books for traders.
Learn, return to the market and take your money back.
Congratulations on buying at $32.79. I added 500 shares at to a 1K share position yesterday, at $32.70.
My FCX portfolio percentage was increased from 1% to 1.5 % by my purchase yesterday.
If you are not day-trading this, you bought close to the bottom. FCX has successfully executed
a positive change to their business model. Their increase in debt is at low cost, and will be manageable.
Look for pps stabilization $30 this week, with a return to $35+ by year end.
My target is $48 within 15 months. The acquisitions will drive earnings in 2013 and beyond.
If you do consider selling, then consider my expectations ( $35 by year-end 2012) as a guide, and if they aren't met, sell in early 2013, when the loss can be taken against your 2013 gains, which will be taxed at a higher rate.
If you hold long enough, you will get it back. In the future buy much less than you would like because a lesson in life is that whatever you buy WILL GO DOWN before it goes higher. Add as it falls and eventually the up trend will begin..