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.
once the projects are completed which they are almost in every area of their business and the capital expenditure drops and their cash flow increases and they pay out dividends you folks will be tripping over each other to get in. Every industry goes thru these cycles once every 2 to 3 years. Al the miners are beat up so bad their stocks are trading below book value. Now financials are in vogue but once they get valued then the techs will take a dump or some other sector. Have a nice evening.
BAC down to 3 dollars C down to 1 dollar GS low at 50, MS low at 11 and a couple years later look at them today. All stock go thru phases of correction. Do you remember when the energy sector blew up and HAL was down to 8 bucks and WMB was 1 dollar today WMB is at 50 and HAL split a couple times and is still at 45. Give FCX a couple years and it will be back to 50. Now go get yr self a #$%$ and a bottle of rum and wake up 2 years from now. For now buy finiancials they are headed up. FCX is long term for now.
Freeport McMoRan call activity attributed to takeover speculation
FLY ON THE WALL 7:14 AM ET 5/14/2015
Symbol Last Price Change
FCX 22.71down +0.1 (+0.44%)
QUOTES AS OF 12:06:55 PM ET 05/14/2015
Freeport McMoRan (FCX) May 23 and 23.5 calls are active on total call volume of 14K contracts (1K puts) on takeover speculation. May call option implied volatility is at 34, June is at 40, October is at 38; compared to its 26-week average of 40. Active option volume suggests traders taking positions for wide price movement.
that is why FCX is hanging in and also the blockade was lifted in Indonesia yesterday. So both positive. Cut in dividend is to preserve cash and once oil stabilizes FCX will move again. So all this is noise in the short term. Stocks go up and they go down so time your buying and have patience.
Refinery strike and Euro weakness. If you look at the technicals its almost bottomed, maybe 37 and then back up a couple points to 39-40. Divident is still 60 cents per qtr which is excellent. Just enjoy the ride up when brent recovers which will be shortly.
If it were to crash it would have dumped in after market close, like Citi jumped from 52 to 54 BAC dropped from 16.11 to 15.86, MAYBE it might hit 15.51 tmrw but I think it will run up to 16.50 - 16.75. There was nothing negative the Fed said and when they give the Fed the new plan by Sept 30 the stock should be in the 20ish and will run to 25. So shorts just cover and run for cover.
BP just has too too many assets, and its buyout value is probably close to 85-90 bucks a share. The buyer has to be someone like shell or exxon or chevron somebody with muscle. Exxon would make a good partner as well since both are in Russia together.
BP has a tonne of assets and those assets are worth a lot, hence BP is holding up. Also BP management is very savvy. They are good managers.
Last night Oil fell 2.7 percent to 65 and all other commodities also took a tumble including Copper and Gold after the Swiss people voted for their SNB not to be Buying and hoarding Gold. If the referendum had passed price of gold would have shot thru the roof and maybe FCX wud be trading at 29 this morning.
their earnings were not good. Earnings dropped 32 percent, besides the threat of strike looms even though for now the unions have agreed not to strike, besides price of metals is weak and is dropping, besides FCX invested a lot in the Gulf Of Mexico Oil Wells/drilling and with Oil blowing up to 75 dols per bbl, all these geopolitical affects are hurting the stock.
Have stocks hit a bottom? We never know for sure until we get to look at it from a rear view mirror. On a near term basis, if yesterday's low (S&P 500 at 1820) wasn't a near term bottom, it is probably very close to a bottom. However, that doesn't mean stocks are in for a V shape recovery. If you look at the charts of the S&P 500 during the two periods after QE1 and QE2 ended, April-August 2010 and July-November 2011, respectively, stocks went sideways after the initial plunge. The initial low was broken or retested along the way. It took a few months for stocks to finally settle down and resume their uptrend.
Although there was heavy selling this morning and a decent bounce in the afternoon, we still have no capitulation. I thought we had capitulation today but it looks the dip buyers and short coverings. The S&P 500 is only 7.4% off it record close. It hasn't even had a correction (10% correction would take it to 1810). Dip buyers are too fast to buy and yet, there wasn't enough buying to turn the trend around. Both the short term and intermediate term trends are still down. The stock market, which has being rising nearly non-stop from November 2012 to early September 2014, is going through a mean reversion. Instead of dip buying and V-shaped bounces, we are likely to see more rip selling and inverse-V slides in the next few months. In the very near term, the outperformance by the small caps suggests that stocks could be close to a near term low. A retest of today's low on lower volume will likely bring in more dip buyers. With that said, the character of the market has changed. Volatility helps short term traders. If you are looking for long term positions, be very careful and go slow.
Notable earnings due out on Thursday include: GS, UNH, COF, DAL, BHI, SLB, AMD, GOOGL, SNDK and XLNX.