FCX - Freeport-McMoRan Copper & Gold Inc. - Page 23

59 to 61, wow.

FCX right at support and holding nicely, look for it to go up until EOD.

5 minute chart doesn't looks so hot

1 hour chart shows weakening volume with price action.

To me, I think investors have finally come to the realization of what Carter Worth suggested that FCX was trading above fundamentals so people are on the sideline and waiting for the fundamentals to catch up with the market price.

UUP is down, crude holds, dow & sp500 are up, I don't see any other explanations other than just lacking of buyers. FCX will have a hard time to hit 65 again until the market gets pushed higher

Not to familiar with UUP. Does it track the inverse of what the dollar does?

UUP is long in dollar

what is not adding up right now is that both FCX and UUP are going down which is rather an unusual situation

got it thanks

I noticed that as well...Either FCX is severely behind the curve, or the selling pressure is getting the best of it.

to me, people are spending and buying stocks but not in the US market, most money have flowed into Chinese stocks

FCX is awake now, I think people were just caught up in AIG and forgot about FCX. We might see FCX explode tomorrow during expiration.

I wouldn't say explode, but anything is possible. Stocks can be very stagnant on expiration day and get pinned to certain strike prices. So, it's 60 or 65 tomorrow if you ask me...I have 1 Aug 65 put that is a hedge for any overnight gap downs, so I'm good either way.

Yea anything is possible but after hours will tell a lot about the direction of FCX heading into tomorrow and right now things look good if you bought some calls. I might even play some calls tomorrow for the short squeeze.

FCX

Hey Bull, just something to keep in the back of your mind. It's somewhat tied to the copper commodity price & the strength of the dollar.

where can you watch copper price in real time?

AH's means absolutely nothing 99.999999% of the time. I can't tell you how many times I've gone to bed, thinking that the big move in AH's would leave my options up 47384728%, and wake up in the morning only to see them down huge. Hot also pointed out that it is highly coupled to copper and the dollar, so watch futures to get an idea of where FCX will be. It's not going to jump drastically higher without a weak dollar and higher commodity prices.

/hg on TOS is the future ticker. Copper is up fractionally right now, but nothing to write home about.

Bull, do us all a favor, stop posting your personal predictions without giving a reason

I posted a lot of this in the JROCK thread. I daytrade the options on FCX at least once, if not twice a day. It's a very liquid & volatile stock to trade options on. It seems to follow the DOW very closely, the strength/weakness of the dollar, & the price of the copper commodity. It usually gaps up or down big time the first few minutes after the opening bell. I usually go have a cup or 2 of coffee to let the gap settle down. Trading the options on FCX is not for the faint of heart, but it can be very porfitable if you pick up on the patterns of it. I keep very tight stops losses when trading the options & I never hold it overnight. Hope this helps anyone looking to trade the options on FCX.

I'm definitely not a expert on FCX by any means, but I trade the options a lot. I usually try to post my entry & exit prices over on the JROCK thread. If I find any useful information on FCX, I will post it here also.

GLTA

I bought FCX Sep 70 calls @ 1.54 today. My original plan was to day trade it for a quick profit but it never happened. Their currently @ 1.28, I'm down 17% but I'm still holding. I might average down first thing in the morning.