Open Question
Feeling after selling my FCX at 60.26 im greedy to let it drop farther to get
back in. Stepping in at 45.03 and seeing if it fills. Im really not trying to
trade it though, just trading around the core position that I feel will do well
next couple years once inflation ramps back. Which I dont see happening for at
least a year as fed has to stay still until unemployment settles. Good Luck to
ya!
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I think inflation becomes a problem a lot sooner than many people think. If the
dollar index breaks down below the 80 level look for inflation expectations to
dramatically rise. I am also long FCX and am just hangin on for the next year or
two. Happy with the management and excited about Tenke ramping up.
Best of Luck
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good call Scott.... seems to be support at this level around $46 or so. When do
you see world demand start to rise for commodities such as copper.
I see copper ramping up more when world demand starts to increase. When BRIC
countries start increasing demand to stimulate growth and take advantage of the
low prices, FCX will ramp up.
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First, for full disclosure, I own FCX. This stock seems to be more dependent on
what Chinese demand for copper is rather than our own housing market. The stock
had a nice run this year, then pulled back. Still it is way off 2008 highs.
Would I get aggressive with FCX here? No. However, I would suggest owning a
little as I do.
Answered by Scott Rothbort / Lake View Asset Management, LLC
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FCX got two upgrades, but the death of two employees near one of their mines is
holding stock down.
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