The question that I have is, how long can the dollar stay strong? The printing press was running on overdrive for YEARS.....at the end of the day I am going to try and just watch. I'm sitting on my hands. The knife is falling and I am not ready to reach out and catch it HERE YET...I did nibble on FCX Friday. I am already learning my lesson there. Well, they say buy low and sell high....I also remember buying AAPL at 422/sh a couple summers ago and GS at 90/sh years back and so on and so forth....YOU BUY LOW (usually when people are convinced you are a moron) and SELL HIGH. Just sold AAPL and GS in the last month....NICE!!! Either way though....it hurts now. GL all, B
For those of you who actually think FCX has a future I figured I'd write and say that I agree. I don't like buying stocks that are hitting new lows but this company isn't going anywhere. This businesses are all basically at their bottoms of what is a very cyclical sector. Because I can't call the bottom and really don't enjoy reaching for falling knives I did only nibble.
Why 170? Max pain would be lower if you ask me. I've owned this stock for quite a few years, and done well. I sold a bit at 225 last summer (a bit to early) and help the rest (avg pps around 115). I personally think that the selling is way overdone but I am sort of hoping to get that 225 sales money back into the position only at lower prices. I do think that max pain is coming for those who bought over 210...but how many levels of support will it take to bring on a max pain sort of day. I personally don't know the level...maybe 170, 160, or lower? The real question is what is the potential growth???? 250, 350, 500??? I think so. Good luck all, B
Abba- Who is a market Guru? The best you can do is have conviction and stay informed. The price from day to day is what it is and can't be relied upon to accurately reflect the value of a company UNLESS you happen to buy or sell on that particular day. The current price is depressed, I have an average pps of about 32 which is where I buy a bunch a few months back...oh well, I should have waited a bit. The question is whether to add a bit and go over-weight or look for other opportunities elsewhere? Well, as we have said many times before....people will always need to eat. GL all, B