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
Comentário
⋅
FCX now moving above the recent 500K+ dark pool block on March 4. Bullish above.
Comentário
⋅
Slammin. Up with copper. We may go WELL beyond the target based on this ramp.
Comentário
⋅
Second chance on copper with this trade is coming I believe
Thanks for posting this trade idea! We've featured it in Editors' Picks! Please keep us updated on the trade's progress
EBITDAtiger
⋅
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
⋅
@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
⋅
@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
⋅
@huntfrizz, just to clarify, 2.21 EPS? and I guess you both were right cause look at VIAC ripping today