Freeport-McMoRan Copper & Gold Inc. Message Board
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To houseofpain THEN SELL and go play in the MUD. SLICK U don't like fcx get out
by truth_is_the_mother_of_hatred •May 2, 2013 10:34 AMI just don't like the fact that management were able to line their pockets so much from the acquisitions and structured the deal so that the FCX shareholders get no vote on the matter. Have you considered how your entire position would look if you started a call selling campaign against the long shares you own and use proceeds to purchase puts? Or investigate buying a LEAP or several LEAPS and sell against the LEAP either puts or calls? Or sell call spreads in quantity several times the amount of stock owned. There are a lot of ways to profit, protect, and sleep soundly each night. Lemons into lemonade as they say.
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To houseofpain THEN SELL and go play in the MUD. SLICK U don't like fcx get out
by truth_is_the_mother_of_hatred •May 2, 2013 10:34 AMIf FCX were to forget about the overpriced buyouts then possibly $40 very quickly. With the overpriced buyouts and the criminal fraud perprtrated on shareholders by management to line their own pockets, this dog is going down hard. Just holding off another day or 2 for possibly a little higher entry point for another short position. Been shorting this dog since $40 and I see no end to the easy profits at $30. Target price $15 - $20.
Sentiment: Strong Sell
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Up over 5% pre market. I may have to take a short term FCX long position and hold my shorts for the long term FXCX continued fall. Certainly going to play CLF long.
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Is FCX soaring along with the rest of the market today? Still not too late to short this dog
Sentiment: Strong Sell
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fcx has a gap at $31.90 and at $38 ! fcx will start to fill first gap this week , could be today !
by supertrader675 •Apr 23, 2013 7:51 AMCopper prices still getting hammered. FCX going down, down ,down. Still time to pick up some short positions to profit from the continued trend dowm.
Sentiment: Strong Sell
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THE REASON BUFFET IS AND HAS GIVEN FCX A BIG STRONG BUY , IS BECAUSE HE SAID GOOD COMPANIES ALWAYS COME BACK
by nynynytrader •Apr 22, 2013 11:08 AMGood companies with good management do always come back. Once good companies with criminal management team that grossly overpay for acquisitions without shareholder vote seldom come back. Been short since $39 harvesting profits all the way down with new target of $10.
Sentiment: Strong Sell
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Why Did FCX MGT Purchase Worthless McMoRan Exploration For $3 Billion Without Shareholder Consent?
by mooseonaplane •Apr 17, 2013 1:28 PMThis is the best and most intelligent string of posts I have ever seen since starting to follow this board. Great observations that the buy and hope crowd choose to totally ignore.
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Sorry, no losses here. Rode it down from 39 and enjoyed profits all the way. Criminal management has handed out easy profit to all shorts on a golden platter
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Gold down, Silver Down, Copper down, Oil down, FCX grossly overpaid for acquisitions to line managements pockets, Complete disregard for creating shareholder value. Down, Down, Down we go. Profit from the fall. Buy Puts!
Sentiment: Strong Sell
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No need to cover shorts until the $10 price range in my opinion. Enjoy the $18.00 ride down!
Sentiment: Strong Sell
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Sell Calls, Buy Puts
Sentiment: Strong Sell
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We broke 29. Next stop technical resistance is 10. Get short now. It's not too late. Sell ITM covered calls and buy puts with the proceeds. Profit from the fall to 10.
Sentiment: Strong Sell
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Go short if this dog breaks below 29. Buy puts or sell ITM covered calls to hopefully dump the stock and buy puts with the proceeds from the sold calls. Next firm technical resistance below 29 is10.
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We are sitting right at a technical major support level. If we break below 29 there's only air down to the next major support level of $10. Hedge with puts if we go below 29. Even better if we break below 29 sell ITM calls expiring Friday to dump the stock then just turn around and buy puts with the proceeds from the sold calls. Net cost = nothing. I've done this each month all the way down from 39. Quite profitable so far.
Sentiment: Strong Sell
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I got this dog last November when assigned @ $39 on 10 naked puts after managements criminal actions and rediculous overpayment for the acquisitions. Started a covered call campaign and bought puts with the proceeds. Fortunately the April calls were assigned Friday so I'm out of the stock and the price drop this morning allowed the April puts to become valuable enough to give a nice gain on the overall position.I believe there is a lot more downside in this dog so may pick up some more shorts going forward.
Sentiment: Strong Sell
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Sorry, Thought everyone should see the quote just for their consideration
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Even for a bull on the long-term supply/demand scenario for copper, the current inventory environment and plunging prices suggests the market could turn ugly for an industry leader such as Freeport. Now if the stock is able to miraculously bounce from the $31 level, investors will have a very solid level of support to buy a global leader. Otherwise, the game plan has to be waiting to enter the stock at lower levels and potentially much lower.
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Notice the x-Dividend effect take place shortly after the open?
by mike.morrie •Apr 3, 2013 9:44 AMDo you really think the company will continue to pay the same $ dividend when the stock price continues it's plummet to $25 then $20 then $15 then $10? I don't think so. I happily and comfortably hold short positions expiring several different months and at several strike prices. Unhappily I do own 1000 shares of this dog that got assigned due to foolish naked put sales back last year before management demonstrated their criminal actions lining their pockets by grossly overpaying for the acquisitions
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Prediction - The $33 calls will expire worthless. Better think about a collar or straddle or strangle instead?
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I bought 1000 shares of this dog when my 10 naked puts got assigned. I've been very sorry since the criminal acts were perpetrated by management grossly overpaying for the acquisitions to line their own pockets at shareholder expense. I've been short this dog every way you can go short and at least now have some profits. Look for this dog to stop falling at about $10 per share..