we get it, copper is having a moment. FCX tho is trading at a whack multiple. It's primarily rallying because the ^TNX isn't, once the cost to service 10 year debt goes up, this stock goes down. They aren't the only copper game in town, in fact they're #3. #1 is owned by the Chilean government, and #2 is BHP, that currently trades at under 30x, roughly 2/3 of what FCX does.
Bullish commodities, but short dumb trades. This thing will rip your face off, slap a chart of the ^TNX alongside it and buckle up 🤙🏽
Rolled into the weeklies puts on this, will continue rolling out if rates rise and this thing peaks, which I believe it's close to. All that said, nice run, good stock to swing trade if you can time it right
Bullish commodities, but short dumb trades. This thing will rip your face off, slap a chart of the ^TNX alongside it and buckle up 🤙🏽
Rolled into the weeklies puts on this, will continue rolling out if rates rise and this thing peaks, which I believe it's close to. All that said, nice run, good stock to swing trade if you can time it right
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puts in place to see this settle back into it's pitchfork. copper not going to save the world or lower the cost of building a home; if anything, it'll perturb buyers, forcing them to push out projects. Selling this high flyer, multiple conflicts with rising yields
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still think this thing is a blow off top, still in my puts here. Sub 40 PT, there's a ton of chunky support levels this thing can ping off of, the next real chance for this thing to possibly rally IMO is the FOMC minutes on the 19th
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.