FCX

[david77080]

I've been thinking about jumping into FCX the last few days. Everytime I am getting ready to jump in it goes down a few points. What would be a good entry point ? Please let me know. David

[john_for_u80]

I've been thinking about jumping into FCX the last few days. Everytime I am getting ready to jump in it goes down a few points. What would be a good entry point ? Please let me know. David

Around 110 Might be good entry point. Near 50DMA! You can buy very small position now if you really feel and add more when it hits around 110-112 area.
Be careful and dont buy big position at once!

[Gzapper]

i changed better diapers in my life than this stock..save your money this should go down to 82 dollars soon or even less.. i mean its just my honest opinion so do your DD.. beeotch :top:

[Rich]

i changed better diapers in my life than this stock..save your money this should go down to 82 dollars soon or even less.. i mean its just my honest opinion so do your DD.. beeotch :top:

Thats a pretty bold prediction Zapp. I'm a little more bullish on this stock, but NOT yet. I do agree that this isnt the best time to enter until the stock goes lower, but IMO I don't think this stock is that bad. I wish I had it three years ago and kept it. But Zap has a great point, look at how this thing went from $110 to under $70 in January 08.

3297 3298

THe RSI, MACD, StochRSI are all down, but volume isn't high with these drops like it was in January, thats why I think it may be profit takers and the stock might reverse upward in the next week or so. JUST MY OPINION.

Here is a report from last month. Notice \ FCX reached the new YTD high of $125 last week. I've seen stocks reach their projected High and tank, over and over and over again. Its like an electric fence! I think that if this stock is bought now, the buyer will loose and have a stock that will take a long time to recover to last weeks high. Resistance is at $121.16. $82 I think would be only if copper dumps big time, and with China needing to be rebuilt I don't see that happening. If anything, Copper will start to go up big when China starts to rebuild sometime later this year.

S&P MAINTAINS HOLD OPINION ON SHARES OF FREEPORT MCMORAN COPPER & GOLD
Wednesday 04/23/2008 10:40 AM ET - Standard & Poor's Research Notes
FCX posts Q1 EPS of $2.64 vs. $2.00 on a 153% sales gain, handily exceeding our $1.92 estimate on better-than-expected margins. Sales and EPS also benefited from sharply higher prices for copper and gold. On a slightly more optimistic outlook for the copper price and with production expected to rise in '08's second half, we raise our EPS estimate for this year to $10.24 from $8.49 and our 12-month P/E-based target price to $125 from $102. FCX's long-term EPS should rise on increased secular demand for base metals and a generally rising gold price.



I think Long Term is fine, short term forget it. But I would still wait to see if this stock is going to recover.

[wallstreetsedge]

if were talking about short term....

id probably look to start jumping in now... and use $114-115 as a stop loss

my target for short term would probably be to start unloading at 122 and better


rich you need to change your indicators if youre looking at short term.. also stochrsi is pretty much useless in this case... i say stick to a 2 and 14 period rsi to confirm

[Rich]

if were talking about short term....

id probably look to start jumping in now... and use $114-115 as a stop loss

my target for short term would probably be to start unloading at 122 and better


rich you need to change your indicators if youre looking at short term.. also stochrsi is pretty much useless in this case... i say stick to a 2 and 14 period rsi to confirm

You bring up some good points concerning the indicators, WSE. Its very difficult to find info on the best set ups for a type of trade....

I was using the stochrsi to prove if the move was correct. Hmmmm, any suggestions as to setting up the indicators for day, swing, short and long trades?

Thanks
Rich

[wallstreetsedge]

basically all indicators do the same thing.. the only thing that changes is the time frame that you use for each indicator..if youre swing trading, use daily or weekly charts, 8sma, 20sma, 2 period rsi, 14 period rsi

most important thing is... BE PATIENT

im very strict with what i get involved in and dont like to gamble much so youll never catch me trading something just to trade it