Edited by hiker, 17 July 2007 - 04:41 PM.
FCX
#1
Posted 17 July 2007 - 04:33 PM
#2
Posted 17 July 2007 - 04:53 PM
#3
Posted 17 July 2007 - 05:47 PM
am now short FCX...today's late day rally failed at an intraday horizontal of interest
as of the close FCX is
on a confirmed sell on the 15 min based on price and MA's alone
the 60 min has remained on a prelim sell for most of the last 3 days....prelim means price and the other MA's are not yet below the 200sma on the 60 min
the daily remains on a buy based on MA's alone, tho' price is below the rising trend channel started off the the 6/26 or 6/27 low....other t/l's based on longer period are also relevant
today makes three consecutive red price candles off the new historic high achieved on sector strike news, etc that may have turned out better than expected on the day of historic high
-------
doodles
April 19, 2006 saw a high of 72.20
since then price has been volatile until,the new high this week of 95.85 on July 13th...a 32.8% price increase since the April 19, 2006 high.
a trader who traded several swings in the ups and downs of this stock since April 19, 2006 could have easily taken out profits of $12 on the downswing from the April 2006 high to the upside move above the downtrend line in March, 2007...at that point flipped to the long side of the trade for at approx. $60.50 and stayed in until this week's move back below $92 for simplicity sake for another $32 per share trade profits...total of these two swings is:
$12 per share
32 per share
equals $44 per share vs the $23 shown above by being a "core" holder in this name.
sure FCX may be trading in the $100 to 200 range down the road, but it needs to prove itself over and over till that happens.
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
#4
Posted 17 July 2007 - 05:58 PM
#5
Posted 17 July 2007 - 07:00 PM
Hiker you can make them visible too, he failed to add the comments.the moderators can make your comments visible, but I do not see your comments yet....
mss
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
#6
Posted 17 July 2007 - 07:29 PM
Hiker I don't know. Looks like 85ish is the most likely, but it might stop right in here. I sold half mine mid-day but still have a few shares.
mss
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
#7
Posted 17 July 2007 - 10:07 PM
#8
Posted 18 July 2007 - 11:11 AM
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."