Get on board this most excellent trade with copper and stock seasonality on your side! FCX has has a great run this year with copper from the bottom rising 400%. This is a great and possibly final leg to get into for awhile that is perfectly balanced inside Camarilla pivots, which I would consider myself an expert in using.
Copper 16YR seasonality nearing a bottom ahead of the FOMC
FCX is in agreement with a bottom near this area
Komen
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FCX now moving above the recent 500K+ dark pool block on March 4. Bullish above.
Komen
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Slammin. Up with copper. We may go WELL beyond the target based on this ramp.
Komen
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Second chance on copper with this trade is coming I believe
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EBITDAtiger
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Awesome post, but aren't you concerned that it's trading at over an 86 P/E ratio? For a commodity related stock that seems extremely steep to me; nose-bleed levels.
mortdiggiddy
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@EBITDAtiger, No I am not, not for this seasonal trade back to the upper target, which we made huge progress for today. This is a short term seasonal trade for 4-6 weeks only, P/E ratios don't matter much at the moment while we are in full bull/bubble mode.
huntfrizz
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@EBITDAtiger, 2.21 is average 2021 earnings estimate. Looking at 17ish forward looking in an economy that the fed is willing to let overheat.
EBITDAtiger
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@huntfrizz, just to clarify, 2.21 EPS? and I guess you both were right cause look at VIAC ripping today