I agree with you, but why is the stock getting beat up day after day, even on good news like the big Emirates buy? The Tea Party does not have the power to end the Ex-Im bank. Seems like the panic button is getting pushed too soon.
Okay, so this is a sector problem. When do you think this "correction" will be over, and materials will start to come back up? Just asking.
Why is this stock continually going down? My profits have evaporated.
It's tempting to sell and take profit, but I think this is a temporary pullback based on overblown fears and media noise, and the stock will move back up when the problem is fixed.
It's unbelievable how many naive sheep fall for this maneuver. Smart investors see this as a buying opportunity created by greedy so-called "analysts" (read "crooks") and will drive the price back up to $138 in a hurry.
I think you're right, Mac. Glad to have somebody on this board who makes cogent comments about R heading in the right direction and doesn't waste our time with spam.
II think this stock is being heavily manipulated by the MMs who want to drive the price up to make a quick profit and immediately drive it down to do the same thing again. There is no other explanation for all the analysts yesterday downplaying the earnings miss and touting the revenue upside and positive forecast, and today doing the reverse. My hope is that in the long run, management's strategy of expansion into oil and gas will pay off, and the manipulators will move on to another victim.
Thanks for an astute analysis. I think Wall Street is expecting the numbers to be bad, given the difficulties FCX has had to contend with this past quarter, but things are looking up and an optimistic forecast should limit the damage.
James C. Flores, CEO and president of Freeport-McMoRan Oil & Gas, just bought 1 million shares of his company's stock. This was not an "acquisition" or an exercise of stock options -- this was a buy order. Nice show of confidence. Hope it is warranted.
I'm with you. The Chicken Little act has grown old. FCX has strong upside potential and will reward those with patience.