you are absolutely correct my friend. Trump speaks as he sees it and that's what people like to hear. Whether he can accomplish what he says needs to be seen. I think he will be our next prez no matter who says what/squat.
the Russians join in the oil will spike to 40-45 bucks per bbl and FCX will be around 15-20 bucks and if commodities pricing improve with the dollar softening FCX shud be at 25 or so. Its just the waiting game. The Saudis cant hold to 30 dollar bbl for very long as its eating their bottom line so price of oil is gonna spike pretty soon.
They offered the Indonesian govt 10 percent share of their Indonesian Grasberg copper mine for 1.7 billion dollars plus gold was up today. With that said FCX will have enough cash to see this debacle through and prices rebound.
Price of Copper will pickup, not so sure about OIL cause for OIL to pickup OPEC has to cut output and nobody is willing to do so and the Russians are pumping like crazy, OPEC is as well and with IRAN coming onto the mkt OIL could go further lower but i hope some common sense kicks in.
Peabody down 18 percent and Consol down 10 percent but FCX is not a coal producer but the Chinese economy showing cracks and dollar getting stronger is dragging oil down and with anals blaring their mouthpiece about oil at 20 is dragging the stock for no reason.
speculation and dollar getting stronger will drive down oil lower is the heart of all speculation driving the stock down. Wonder when all this BS will end.
It was an ugly day and investors dumped stocks from the opening bell into the close. The financial stocks were sold as the 10-year T-Bill eased to a 2.20% yield narrowing the spread between short and long term bonds. That's a negative for bank stocks and shares of Bank of America (BAC), Wells Fargo (WFC) and JP Morgan Chase (JPM) were all off more than -2.5%. In addition, the Regional Banks ETF (KRE) was off -2.73%. It looks like the Grinch will keep Santa away. Keep an eye next week on crude oil prices. If they stabilize, the seasonal bias could give stocks a small lift. However, if crude prices continue to fall, the major averages will retest the August-September lows.
It must have bottomed out here, besides FCX got its permit renewed and permission to export copper in Indonesia again.
the #$%$ devalued their currency yuan by her 2 percent and that has put pressure on the commodity producing countries like Brazil, Chile, and 2 other were mentioned and hence that is dragging FCX down as well. FCX even though broke thru 10 this morn rebounded off 9.88 but with oil expected to hit 30 levels might cause FCX to hit 5-7 range. I am a long in at 25 and holding as I know eventually this will recover and when the shorts get crushed there will be some decent rebounds. goodluck
Oil is down 3 percent and so are commodities due to china having devalued its currency by 2 percent.
I think at this rate we will see 15-18 soon helped by short coverings and oil aving found a bottom and with Chinese stimulus helping their recovery copper shud recover soon.
People were shorting this stock left right and centre, people jumped on the band wagon of shorts and drove it down to 3 bucks, then things began to change for the better as BAC settled their share of lawsuits etc and today it is back to 18. I lost my #$%$ on AA and MS but held on didnt give up as i knew these are good companies and will recover and they did. Market is irrational and they have trounced FCX as investors flee the comodity sector, hedge funds have been decimated and are liquidating, all these reasons pile up on the mining stocks and when the dust settles new investors will cherry pick these beat up stocks and once again FCX will rise, it pays to be patient. good luck
The shorts are gonna get burned one of these days. Buy for a swing trade. It will bounce back by about 30 percent or 4-5 dollars to about 17-18 pretty soon.
this company has way much asset and earnings than AA and is trading at the same price as AA. The investors
have thrown the baby out with the bath tub. It will bounce back as there will be short covering.