FCX is going lower…. you heard it here first. For those of you who don’t know what FCX does:
Freeport-McMoRan Copper & Gold Inc. (“FCX”) is an international mining industry leader based in North America with large, long-lived, geographically diverse assets and significant proven and probable reserves of copper, gold and molybdenum.
FCX is putting up a very reliable pattern. One that shows the stock, in my opinion, falling well over 35% from current prices. Am I crazy? We will find out now. Currently the Sept. $33p are going for $.34. Tomorrow I will put my money where my mouth is:
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