China plays the copper game: several times a year they stop buying for awhile, trying to indicate that the market is tanking. But they can't do it for long. They need too much of it and when their stockpiles run low they resume buying. Anyway, the chart may be making a double bottom--have to wait a few days to see if it rebounds or breaks below the previous low. No cause for panic at this point. Wait and see, or sell in a panic if you wish.
Selling FCX short is a high risk way to attempt to profit. It might work - but you may lose big-time. This is a company that makes a lot of money (high cash flow) and it could also be bought out at any time.