Wednesday, July 8, 2009

FCX short was triggered

DR Copper is promulgating the patient is turning for the worse, a broken neckline is no way to bring down LME copper stock levels. FCX does copper and gold and they are both likely to head down. FCX broke a neckline. This stock is heavily traded and gamed, so you better be ready for some shakeout moves.

Charts along with new ES chart to come later.

4 comments:

  1. This comment has been removed by the author.

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  2. Steve, Dr. Copper broke the 50 day SMA today.

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  3. Thanks for the info.

    Cool, I do solar, so I need lower prices to sell to more customers. Plus my short on FCX out to do fine although I am slightly at a loss right now.

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  4. FCX ran up....it's a volatile stock in a volatile market. My stop hit, and hopefully I can short from a higher level.

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Insightful and Useful Comment!