gotta be huge support for FCX
Also, copper broke thru the big dowtrend,
could mean big things on low volume week
full disclosure, long July 20th 29/30 call spreads for .11 bought at 26.80 a few days ago
There was a time when if copper was up .10 FCX was up dollars, not cents. Ah well, guess this is new reality for the stock.
back on track again. Good price action today on a minimal move in copper.
What really has everyone scrambling for Freeport is due to the release on the ISM today. The ISM’s new-orders gauge rose to 51.9% from 48.8% in May! Plus Europe numbers also indicated a rebound in manufacturing. IMO