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[hiker]

I could be wrong but scaling into FCX shorts may make sense if you expect the market to sell off some next week...look at the mean price target by 18 analysts vs. today's historic high. note upper price channel on the daily. the run from the 66.39 swing low has only had one tight consolidation, but not the 6 to 10% swings characterizing the last year or so. the person I know that has held 5k shares from about $13 is executing her first sell today in all these years...she told me she is selling 1,500 shares. not much to rely on, but is of interest since this person has correctly held to date for the duration.

Edited by hiker, 31 May 2007 - 10:07 AM.

[hiker]

Cramer said last night he valued CLF at $88 if memory serves..so I sold my new CLF long entry near that target today.

FCX lower highs intraday so far and price has moved below the 60 min 5 sma...price now needs to move below the 15 sma on the 60min at some future date, or I bail on this short if not earlier

still have RIO from long ago when posted at my TT blog, but have tightened stop

blog -

http://www.traders-t...?...;blogid=26

Edited by hiker, 31 May 2007 - 11:35 AM.