Freeport McMoRan Inc (FCX) Options

I use an 8-21 day chart catches early moves. PM's are about to make a move again in 2025 as gold is heded for $3,000 which gives earning a big push higher

Not seeing that, I gave up trading metals and oil

looks like this just broke out again

Doji week low was 47.71, I think that price holds for a continuation of the screaming rally here!

Freeport.... the memories. I worked at their Globe/Miami copper mine in Arizona years ago when they bought out Phelps Dodge. I know that mine has a massive gold deposit they're sitting on. Maybe with the constant rise in gold prices it's a good time for them to tap into that jackpot and it could jump the price up significantly. Waiting on $NBRI and $GOLD to do the same!

Loaded with OCT 48 calls here!

Demand
FCX new 52 hi

What is driving FCX higher and how high can it go? Opinions anyone.

https://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=fcx

This holding had zero cash held in reserve, so as (if) the price continues to rise, I'll be building a reserve for its future.

Best wishes,
OAG

With FCX now uptrending, it's all out stock melt up!

Hi CM,
I let 10% of the FCX position go today at $41.12. I'll hold the cash for a chance to later put it back to work at a discount from here.

Best wishes,
OAG

FCX on Fire! Key Reversal yesterday, breakaway gap today, 50 day just turned up, I bought 4 Feb 40 calls here Monday! Dr. Copper is Back!!!

Let me know if you feel the same way when we break $3.00!


Do watch fer that uninversion of rates! Whole bunch of bad just waiting to happen.

Bought Nov 42 calls today!

As the more conflicts the US gets into the higher all commodities will go.

Extremely important day for copper tomorrow! Retest of dump line.

It's going to be difficult if it can't get above the green line.
https://schrts.co/urIytiGV
Weekly looks a little heavy.

An Upcoming Rare Earth Play to Take Notice of
https://10xalerts.com/an-upcoming-rare-earth-play-to-take-notice-of/

That's psychosis not psychology!

#91 for you , looking for #208 ~~~~~just got a starter posion $FCX

JOE is using psycology, and backward analysis---this will weaken inflation, by making gas and diesel to near $$ 9 a gallon US.....making less people on the road for American thanksgiving week 1,2,3,4th thurs in November

JOE is using psycology, and backward analysis---this will weaken inflation, by making gas and diesel to near $$ 9 a gallon US.....making less people on the road for American thanksgiving week 1,2,3,4th thurs in November...BADDA BONK

I'm sure some hat collections would show up for the right price.

Aluminum going to be the next copper as reserves are almost Nill and plants closing down because of cost of electricity. Another new bubble is forming.

While I am bearish on the macro, I do see this has the chance at retesting the $4 area. I plan on being mostly out before October. If things don't change in the US SHTF!

Agree!

Did notice the HD had begun lashing the shelves with rod iron fencing and locking it down for the apocalypse! 12-2 romex was listed for ~$160 for 250ft!
Or $100 more than what the market price was for said material before the pandemic. No wonder people are burning down their stores. Just keep in mind anything built 2020 and later will be under water!

Yes it is true. China is halting bank accounts and people are stopping mortgage payments etc etc. make sure your stocked up on Cash. It’s gonna get really bad here too. Credit Card Debt is at a all time high and savings are dwindling really fast. With Interest Rates rising quick we are gonna see some serious defaults going into 2023. Todays Fake Market is rally is the big boys selling and pulling a fast one on small retail.

No. Did it get Borked like UK and Italy? Why anyone would willingly join a failing currency block is beyond me.

Hearing rumors Chinese residential mortgagees are starting to walk away from unfinished and underwater homes. I'm sure half of them can't even access their bank funds to even pay if they wanted to.

The Dollar is going to crush the World

Drought and Lack of Water with excess heat. Yeah that will do it. Did you see Norway?

I'm hearing Texas cattle herd cull due to drought and feed cost/availability. Should retest that broken trend line on live cattle before short. Seeing a lot of high priced steaks at the grocery store going bad.

SRI Lanka ex President even fled the Country. Not sure Biden could flee lol. 2023 gonna be ridiculously bad imo.

I'm not even sure if the market can stop it at $1~!
https://schrts.co/XYvpGnyj

This whole BEV fiasco is DOA! They best let go of their fantasy before they find themselves in a pine box. i.e. a Sri Lanka type restructuring.

Really tough times ahead I agree!

Copper above $4 = Recession every time!

Now we are in sell the rips mode.
https://www.cnbc.com/2022/06/24/stay-away-from-this-company-poised-to-go-public-next-week-jim-cramer-warns.html

I would agree with his thesis, Now is not the time to start building a mine from scratch. It is consolidation time!

Out 35.35 thank you

Picking up a few here

utah 4 percent railway Grade

USES rare oil now

$4.45 is the next target area. Can't have new housing starts if interest rates go up! Grand kids will not be buying houses on 1/3 of the money you were making when you first bought your house!

Still getting rejected over $4.71.
https://schrts.co/vkNtKxar

The fact that they are not willing to bring more production on line tells me that they know it will cause too much supply. Mute though as we head into recession.

https://www.reuters.com/article/us-metals-copper-ahome/column-copper-surplus-on-the-horizon-but-will-it-come-in-time-idUSKBN2H31JX

Am I missing something here? You think that because there is a lack of copper the price will go down?

They are at production limit. It doesn't matter what price of copper is, you don't get more. Sounds like a reason to short copper to me.

It sure does...

I just know what happens when copper gets over $5, Oil over $90, inverted interest rates 5yr over 30yr!

I already see retail dumping product because they need cash. (Deflationary)!

It's going to be a bigger rug pull than 2008 so build cash and hold on to your butt!

Keeps going

How many double tops do you see?

$FCX bounce? https://www.nxtmine.com/news/articles/todays-news/tsx-ndm-northern-dynasty-comments-on-one-year-anniversary-of-appeal-submission-and-recent-predictions-of-significant-increases-in-the-price-of-copper-coming-in-light-of-supply-demand-imbalances/