Nobody has ever made a dime in any market by living in fear. It takes risk to make money. The stock market is no different. I have been a long term holder of AAPL, BMY, COH, GILD, V, GS, AINV, VA, MOS and several ETFs and many mutual funds. Stocks have ups and downs... If you can't take the downs, you probably shouldn't be in the stock market at all.
So it has been a few months after I started this thread. Of course, there will always be naysayers. I'm still long the stock and see a clear shot to $50, where the chart bumps into resistance. I'm in it for the long haul: I have a healthy divvy locked in from lower entry points, I have good capital gains... To the naysayers I have to say... Well, you've been wrong on COH since I met you.
Been adding to MOS recently. The way I see it, one must buy these types of stocks when they're not perceived as "sexy" at the moment. I think MOS should be trading at $60 right now. Not too long ago, I was buying COH at 32-33 and people thought I was nuts. Today, I'm raking in a 5% dividend and have a nice capital gain to boot. It all depends what you want in life. I personally prefer buying undervalued companies with a nice dividend. When the stock starts running you'll have a nice dividend and capital gains as an added bonus. If you want to be a momentum trader, look elsewhere... MOS is not for you.
Doomsday rants? LOL... I'm just saying where I would attempt a purchase in FCX based on technical levels. Sorry I'm not holding any pom-poms and jumping up and down to entertain ya.
That's where I'm willing to put some money to work in FCX to minimize risk. If it doesn't get there... Oh well. I'll be looking for some other fish. However, if it gets there, I'll be buying with a tight stop or some protective puts IF the market as a whole isn't tanking. Watch all the death crosses starting appear in the market (JNJ, MSFT, TSLA, etc.) and the confirmed downtrends of a lot of other stocks. I'd hate to be holding bags if things turn sour.
It's 2 cents above the most recent low. It needs to get there and hold above it. That's where the next heavy support is. If it breaks below it, not only FCX is going down, but the entire market will.
I dunno. What I do see is a lot of activity consisting of call options being bought at these levels. In addition, MOS is at .5 retrace, 50 dma and bottom of daily bands. This thing is flashing short term buy signals from my standpoint.
If it can hold the lows and makes a double bottom, you got yourself a winner. However, if it cracks below the lows, it will be a clear sign the economy is in trouble. I'm rooting for the first case scenario.
23 was resistance and it was cleared after a fairly long consolidation period. From here, it should be smooth sailing until 35. That's where the next major resistance will be encountered. If it clears 40 from there, you're looking at uncharted territory and the sky is the limit. I think a major catalyst will be required to clear 40.
Dude... This thing is just breaking out. Look at a 1-year chart and buy on ANY dip. Thank me later.
Sentiment: Strong Buy
Since you said this, rates have gone lower... And will probably continue to do so in 2015. Some countries in the world are already seeing negative interest rates.... Crazy but true.