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Yes, FCX looks overpriced and possibly will consolidate a bit from here. But as long as the U.S. dollar is contained (or even moves lower) copper and gold could rise further and FCX will then resume its uptrend.
I would not short it right now.
"multiple confluence of cyclicality"
how could it get any better than that.
the most magnificent phrase I've read in many moons. if only I knew what it meant.
I think the primary issue behind FCX is the political
stability of where their mines are located.
"Excuse me Teacher, May I be excused. My brain is full."
jeez louise. The moon is in the 7th house and jupiter is up my ass. Whatever. Teck Resources can probably be singing the same tune. Who needs the 'ol Vancouver stock casino when we have Wall Street!
Who came first? Did Wall Street p&d junkies go to Salt Lake or Vancouver stock casino school or vv?
Clearly, the ramp job since March on green fumes was the biggest promo effort EVER!
Congrats and hats off to the pumpers at the White House, the Treasury, the Fed and of course the political whores. They're all complicit if there would ever be a broad SEC investigation. Won't happen.
** Money out of thin air is worthless. More and more people will realize that and jump into gold - both feet **
My two cents on FCX, don't fight the tape. This one seems to have ebbs and flows with the daily copper price. I believe the decline they reported last was due to copper price, they made up for it with Gold, and for what it's worth, they just reinstated their dividend.
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