FCX , Freeport update

fcx jan 11 2016fcx feb 17 2016

Then, Jan 11, 2016, a buy. Today, maybe a sell. See previous two blogs. You could have been up almost 60% in five weeks. We simple do not know if it will go higher immediately or if there still is a 5th wave to come. Play it safe, as the saying goes, nobody has ever lost money by making money.

FCX update

The usual then, Jan 11, 2016 and now charts;

fcx jan 11 2016fcx feb 7 2016

We were a few days early and a dollar too high, but had you bought it around $4.50 you would still be up almost 25%. We are not at all sure that this is the final bottom but looking at the chart a little closer, it is possible to count the waves in such a way that we were only at the end of wave 3 of this wave and still have 4 and 5 to go (shown in blue). Again we are not sure but it is a possibility.

Furthermore, as first waves in a new bull market tend to be retraced almost entirely there should not be much lost if you step aside at, say $7 or so, and wait it out.